Construction companies build residential and commercial structures, infrastructure projects, and industrial facilities, while materials suppliers provide cement, aggregates, steel, and lumber. Homebuilders like D.R. Horton and NVR benefit from the chronic US housing undersupply — over a decade of underbuilding has created a structural deficit of 3-4 million homes. Infrastructure companies benefit from the IIJA (bipartisan infrastructure law) funding roads, bridges, and broadband. Construction activity is highly sensitive to interest rates and credit availability.
US housing starts and building permits lead homebuilder revenues by 6-9 months. Aggregates pricing (price per ton) at Vulcan and Martin Marietta reflects local market power. Infrastructure project backlogs indicate years of forward revenue. Dodge Momentum Index leads commercial construction spending.