Welcome!




Expand Your Education with These Courses from
Business Creation – Prospecting: Skills for Sales Success: Part Three.
Accredited Buyer’s Representative.
Bundle 2: CIPS Elective Courses (US Version).
Becoming a Successful Sales Professional: Skills for Sales Success: Part One.
At Home with Diversity.

Residential Construction Spending Unchanged in January

Have a comment on this article? Share on Facebook!

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 percent over December’s pace. On a year-over-year basis, the nominal value of spending on new single-family homes has risen over 30 percent. Since bottoming out around the midway point of 2009, construction spending has surged 65 percent. The current NAHB forecast calls for single-family housing starts to grow in 2013, with a slower pace of expansion anticipated during the first quarter of this year.

Construction spending on new multifamily projects also increased in January, growing 1.7 percent from December 2012. Gains in spending have occurred in each of the last 16 months. On a year-over-year basis, the level of apartment spending has increased almost 55 percent and has – as of January – more than doubled from the cyclical low set in August 2010.

Offsetting the gains in single-family and multifamily construction, January saw a 4 percent drop in improvement spending that resulted flat headline growth for total private residential category. The 3-month moving average of remodeling spending was down almost 2 percent but remains near post-2007 highs.

View this original post at the NAHB blog, Eye on Housing.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com