Eye On Housing
Total private residential construction spending decreased slightly from the revised August and newly released September figures to a seasonally adjusted annual rate of $326.9 billion in October 2013 according to Census estimates. The current reading is a 0.6% decrease from the prior month and 17.8% higher than a year ago. Today’s release included September and October data for construction put in place. The September data release… Read More ›
Tag Archive for ‘construction spending’
Construction Spending: Continued Improvement in August Data
Total private residential construction spending increased to a seasonally adjusted annual rate of $340.2 billion in August 2013 according to Census estimates. The August data for construction put in place data was released today after a delay of three weeks due to the government shutdown. The current reading is a 1.2% increase from the prior month and 18.7% higher than a year ago. After a tepid… Read More ›
Construction Spending: Improving at a Slower Rate
Total private residential construction spending increased marginally to a seasonally adjusted annual rate of $334.6 billion in July 2013 according to Census estimates. Spending continues to improves, but remains well below the peak pace of $676.4 billion in March 2006. The current reading is 17.2% higher than a year ago. Single-family spending registered a slight increase of 0.5% for the month, while the home improvement category… Read More ›
Construction Spending: Improvement Spending Shows Strength
After recent positive data revisions, seasonally adjusted improvement spending has shown growth during the spring of 2013. The current pace of improvement spending is the highest since 2007. This improved picture of the remodeling market is consistent with NAHB surveys of remodelers, suggesting improving market conditions during the second quarter. According to the current Census construction spending report, total private residential construction spending was effectively… Read More ›
Single-Family, Multifamily, Home Improvement Spending All Up
Total private residential construction spending increased to a seasonally adjusted annual rate of $328.6 billion in May 2013, the fastest pace of residential construction since October 2008. The reading is 1.2 percent above the positively revised April estimate and 22 percent higher since a year ago. All three components of residential construction spending registered gains. New multifamily construction spending showed… Read More ›
Single-Family and Multifamily Spending Up, Remodeling Declines Again
Total private residential construction spending decreased a negligible 0.1% on a month-over-month basis during April 2013, with the net decline driven by a further decrease in improvement spending. However, total housing-related spending is up 18.8% from April 2012 and has increased 35.7% from the cycle low point in 2009. Spending on new single-family housing has now increased for 22 of the last 23 months, increasing… Read More ›
Weak Remodeling Activity Weighs on Residential Construction Spending
Total private residential construction spending increased 0.4% on a month-to-month basis during March 2013. After data revisions, first quarter nominal spending levels came in 2.3% lower than the final three months of 2012. With that said, private construction spending has bounced back by 33% since its cyclical low from nearly two years ago and has advanced more than 18% compared… Read More ›
Residential Construction Spending Bounces Back in February
After three consecutive months of slight declines, private residential construction spending increased 2.2% on a month-to-month basis in February. Despite the sluggish readings from the prior 3 months, nominal spending on residential construction activity remained more than 20% above its year-ago level and roughly 36% higher than the cyclical low in mid-2011. The new single-family home category continued to show… Read More ›
Residential Construction Spending Flat in January
Private residential construction spending was relatively unchanged for the first month of 2013 due to declines in the volatile remodeling spending category. Nonetheless, total residential construction spending remains near post-2009 highs and has experienced growth in 15 of the last 17 months according to data from the Census Bureau. Spending on new single-family homes continued to expand, rising 3.6% over December’s… Read More ›
Positive Run Continues for Residential Construction Spending
Private residential construction spending jumped 2.2% on a month-to-month basis during December 2012. The initial estimate of a 0.4% gain for November was moved up slightly to a 0.6% increase, but the October number was pushed appreciably higher from 1.3% to 3.2%. Spending has registered nine uninterrupted months of growth, as well as 16 of the last 17 months showing… Read More ›