NAHB analysis of Census construction spending data released Monday finds that the pace of residential construction spending improved on both a monthly and year-over-year basis for April.
For the month, the seasonally adjusted annual rate of single-family construction spending was US$206 billion, up 1.6 per cent from March. The April rate of multifamily construction spending was US$51 billion, 3.1 per cent higher than March.
(formerly Reed Construction Data)
On a year-over-year basis, the pace of single-family construction spending was up more than 9 per cent from April 2014, while multifamily spending was almost 25 per cent higher.