Trendlines Statewide Monthly Construction Data- April 2024

Wet and Cold Winter leads to slow January

Data recently released by the United States Geological Service shows 103,474 tons of cement were shipped to the state in January 2024. The tonnage is an 11% drop from January 2023. January was a very cold and wet month across the state, and we anticipated a precipitous drop due to most companies being practically shut down for the period.

Looking to ready mix volumes, we estimate 383,164 cubic yards of concrete were placed during the month.

A look at the March AIA Billing Index indicates the commercial market shows a continued softness. Billings contracted from 49.5 in February to 43.6 in March. Any number below 50 is considered negative. Looking to the Home Builder Index for Aoril, the report shows sentiment stayed above 50 for the second consecutive month. Like the AIA billing index, a number above 50 forecasts anticipated growth in the market. The number has grown 14 points since the December low of 37. Data from the University of Alabama’s ACRE shows residential construction in the state is doing well through March. The center estimates home starts are up 23.5% over the first three months in 2023. They estimate 4,062 homes are under construction so far this year.