Trendlines Statewide Monthly Construction Data- December 2024

September Shipments See Big Drop

Data recently released by the United States Geological Service showed cement shipments declined by 16.9% in September 2024 compared to the same period in 2023. Even more concerning was the 24.9% decrease from August shipments. Looking to ready mix yardage, we estimate 437,809 cubic yards were placed during the month. The yardage represents the lowest volume since January 2024. Shipments for the year are 1.9% ahead of the first nine months of 2023.

Examining economic data from the University of Alabama’s center for Real Estate, they project new home starts are up 10.6% through October 2024 compared to2023. Every metropolitan area except Decatur, Dothan and Tuscaloosa are outpacing 2023. Looking to commercial data, the AIA Billing Index for November 2024remained just below 50 suggesting a slight cooling of the commercial market.

While one month does not establish a trend, the large drop in September is four months out of nine that showed a significant swing in volumes shipped to the state. February and April saw massive spikes while January and September were significant dips.