For metropolitan statistical areas (MSAs) across the U.S., the expansion index measures the dollar volume of projects (i.e., in ConstructConnect's extensive database) in all stages of preparation prior to construction field-work getting underway, at the beginning of any given month this year versus what was calculated at the same time last year. Expressed a little differently, it is the value of all the projects in the pipeline prior to groundbreakings or 'starts' now versus 12 months ago.
Click icons to see city, state, and Expansion index
ConstructConnect's Expansion Index heat map at this time (i.e., for June 1 2017) is significantly warmer than cooler. 260 of the 379 MSAs (69% or more than two-thirds) have index values in excess of 1.0, indicating that the volume of their projects in the contemplated and preparing plans stages is greater now than at the same time last year. 108 of the 379 MSAs (or 28%) have values that are level or falling. 11 MSAs (or 3%) have Expansion Index values above 5.0, suggesting dollar volume market potential, year over year, that is 'red hot'.
Alex Carrick, Chief Economist (For ConstructConnect's latest starts statistics, please click here.)