US Residential Construction Spending

US Residential Construction Spending

National Association of Home Builders analysis finds that over the last year, the pace of private single-family construction spending increased 9.7 per cent and multifamily construction spending increased 31.5 per cent
For the month of February, the annual rate of single-family construction spending was US$203.9 billion, down 1.4 per cent from January. The February rate of multifamily construction spending was US$50.9 billion, 4.1 per cent higher than January.

SOURCE: NAHB Eye on Housing
SOURCE: NAHB Eye on Housing

The construction data illustrate the degree to which multifamily spending (measured on the right axis below, at a smaller scale than the larger single-family category) is thus far leading the recovery for the residential construction sector. NAHB expects gains for multifamily to slow in 2015, while single-family construction increases.

Comments are closed.