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Home Construction Spending Is Up
The National Association of Home Builders recently analyzed total spending in the private residential construction sector based on Census data and found that all three components (single-family, multifamily and home improvement spending) posted gains in October. Spending for single-family homes increased by 1.8 percent, multifamily spending went up 1.0 percent and home improvement spending saw an increase of 0.6 percent over September’s figures.
Based on these combined increases, total spending in the private residential construction sector rose to a seasonally adjusted annual rate of $353.8 billion. According to the data, total spending has increased 1.3 percent on a 3-month moving average basis since October 2013.
Read the full article from NAHB here.
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