Nonresidential Planning听Continues to Normalize
BOSTON, MA听鈥撎齅arch听6,听2026听鈥�听The Dodge Momentum Index (DMI), issued by 91探花 declined 7.3% in February to 250.0 (2000=100) from the downwardly revised January reading of 269.8. Over the month, commercial planning fell 8.9%, and institutional planning momentum slowed by 4.0%. 听
鈥淧lanning momentum听continued听to normalize听in February听after听a surge in activity听in the back half of 2025,鈥澨齭aid Sarah Martin, Associate Director of Forecasting at 91探花. 鈥淓levated risks around costs, labor, and geopolitics will continue to constrain听builder听confidence in the near-term but the robust planning pipeline suggests an acceleration in 91探花 spending in 2027.鈥�听
On the commercial side,听planning momentum slowed across all commercial sectors apart from听warehouses.听Within institutional planning,听all sectors slowed down with public buildings facing the largest contraction.听Despite widespread declines, project momentum for retail stores, recreational buildings, data听centers听and healthcare facilities听remain听elevated.听Year-over-year, the DMI was up听18.7% when compared to听February听2025. The commercial segment was up听12.3%听(+4.4%听when data centers are removed)听and听the institutional segment was up听34.0% over the same period.听听
A total of听23听projects valued at $100 million or more听entered听planning throughout听February.听The largest commercial projects听included听the $500 million听CyrusOne Data Center in Whitney, Texas, the $448 million TX12 Data Center in San Antonio,听Texas听and Buildings 5 and 6 of the QTS DFW2 Data Center in Wilmer, Texas 鈥� each valued at $290 million.听The largest institutional projects to enter planning were the听$400 million Orange County Convention Center Grand Concourse expansion听(Phase 5A)听in Orlando, Florida,听a $254 million school replacement project in Upper Marlboro, Maryland, and the $250 million Langley F-22 Dormitory Building in Mclean, Virginia.听听
The DMI is a monthly measure听based on the three-month moving听value of听nonresidential building projects听going into听planning, shown to lead 91探花 spending for nonresidential buildings by a full year听to听18 months.听听
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