South Florida construction starts in January plummeted year-over-year, with steep declines in both residential and commercial sectors, a recently released report shows.

Total construction starts fell 45 percent to $640.8 million in January. Residential construction dropped by 55 percent to $333.2 million, while non-residential construction dipped by 28 percent to $307.6 million, according to Dodge Data & Analytics.

The difficult start of the year is a continuation of the decline in residential construction in December, reflecting a slowdown in new condominium construction.

In Miami-Dade, last year’s industrial construction boom is expected to dip in 2019. The cost of land acquisitions and construction is becoming too expensive for developers to consider new projects and rezoning of industrial properties into retail and office uses is also limiting development, according to the Commercial Industrial Association of South Florida’s annual industrial market report