Private Residential Construction Spending Continues To Grow

Recent analysis from NAHB found that total private residential construction spending grew 1.2 percent in March to a seasonally adjusted annual rate of $503.4 billion.

Growth is 7.5 percent higher than a year ago. The NAHB construction spending index has steadily improved since early 2010.

Multifamily construction spending and home improvement spending also increased in March, while private nonresidential construction spending decreased.

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