Lockton: US construction eases but insurance market stays competitive for builders in 2026

Through the first 10 months of 2025, the value of construction put in place totaled $1.825 trillion, down from $1.851 trillion in the same period of 2024. Residential construction accounted for $779 billion, compared with $798 billion a year earlier, while nonresidential spending was $1.046 trillion, down from $1.054 trillion. Dodge Construction Network is forecasting total construction starts to decline by about 0.4% in 2026.