A recent National Association of Home Builders analysis showed private residential construction spending increased 1.8 percent in February to a seasonally adjusted rate of $484.7 billion.
Multifamily construction spending continued its record breaking pace growing 2 percent from January to $64.5 billion and 10.7 percent since one year ago. Single-family construction rose 1.2 percent and has been growing steadily since October. Home improvement spending increased 2.7 percent from the previous month and 9.6 percent compared with February 2016.
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