Residential Construction Gains Momentum in October
Residential Construction Gains Momentum in October
Residential Construction Gains Momentum in October
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December 1, 2011 (Shirley Allen)

Private residential construction spending gained some unexpected momentum in October, increasing 3.4 percent to a seasonally adjusted annual rate of $239.0 billion, up from a revised estimate of $231.2 billion in September according to the U.S. Census Bureau. It was the second consecutive month of improvement for residential builders.

Total monthly spending by builders for both residential and non-residential private construction increased 2.3 percent to a seasonally adjusted annual rate of $518.6 billion, up from the revised estimate of $507.1 billion in September.

The estimate for private residential construction spending in September was revised upward almost $3 billion and the estimate for all types of private construction was also revised upward $5.3 billion, making the gains that were posted in September even higher.

Private residential construction in October was 1.7 percent higher than in October of last year when builders spent $235.0 billion, while the total amount builders spent for all private construction was 5.2 percent higher than the $492.9 billion spent a year ago.

Private construction spending on new single-family homes increased 0.6 percent from September to October as builders spent a seasonally adjusted $107.5 billion in October. The estimate in September was downwardly revised from $107.1 billion to $106.9 billion.

Single-family home construction spending was 1.0 percent higher than in October of 2010, when builders spent $106.4 billion on construction.

Multi-family private construction spending declined 0.8 percent from September to October, to a seasonally adjusted annual rate of $14.9 billion. The estimate for September was also downwardly revised from $15.1 billion to $15.0 billion.

Multi-family construction spending was 6.7 percent higher than in October 2010, when builders spent a seasonally adjusted $14.0 billion.

The remainder of the private residential construction spending in October, $116.5 billion, was money spent for any type of construction to an existing structure ranging from remodeling to additions to swimming pools to replacement of major systems such as HVAC systems. This was an increase from an upwardly revised $109.2 billion in September and also up from the $114.5 billion spent in October of 2010.

Tags: residential construction spending, single-family homes, multi-family dwellings, seasonally adjusted annual rate, remodeling, additions

Source:
Census Bureau

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December 1, 2011 (Shirley Allen)

Private residential construction spending gained some unexpected momentum in October, increasing 3.4 percent to a seasonally adjusted annual rate of $239.0 billion, up from a revised estimate of $231.2 billion in September according to the U.S. Census Bureau. It was the second consecutive month of improvement for residential builders.

Total monthly spending by builders for both residential and non-residential private construction increased 2.3 percent to a seasonally adjusted annual rate of $518.6 billion, up from the revised estimate of $507.1 billion in September.

The estimate for private residential construction spending in September was revised upward almost $3 billion and the estimate for all types of private construction was also revised upward $5.3 billion, making the gains that were posted in September even higher.

Private residential construction in October was 1.7 percent higher than in October of last year when builders spent $235.0 billion, while the total amount builders spent for all private construction was 5.2 percent higher than the $492.9 billion spent a year ago.

Private construction spending on new single-family homes increased 0.6 percent from September to October as builders spent a seasonally adjusted $107.5 billion in October. The estimate in September was downwardly revised from $107.1 billion to $106.9 billion.

Single-family home construction spending was 1.0 percent higher than in October of 2010, when builders spent $106.4 billion on construction.

Multi-family private construction spending declined 0.8 percent from September to October, to a seasonally adjusted annual rate of $14.9 billion. The estimate for September was also downwardly revised from $15.1 billion to $15.0 billion.

Multi-family construction spending was 6.7 percent higher than in October 2010, when builders spent a seasonally adjusted $14.0 billion.

The remainder of the private residential construction spending in October, $116.5 billion, was money spent for any type of construction to an existing structure ranging from remodeling to additions to swimming pools to replacement of major systems such as HVAC systems. This was an increase from an upwardly revised $109.2 billion in September and also up from the $114.5 billion spent in October of 2010.

Tags: residential construction spending, single-family homes, multi-family dwellings, seasonally adjusted annual rate, remodeling, additions

Source:
Census Bureau

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
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NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
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December 1, 2011 (Shirley Allen)

Private residential construction spending gained some unexpected momentum in October, increasing 3.4 percent to a seasonally adjusted annual rate of $239.0 billion, up from a revised estimate of $231.2 billion in September according to the U.S. Census Bureau. It was the second consecutive month of improvement for residential builders.

Total monthly spending by builders for both residential and non-residential private construction increased 2.3 percent to a seasonally adjusted annual rate of $518.6 billion, up from the revised estimate of $507.1 billion in September.

The estimate for private residential construction spending in September was revised upward almost $3 billion and the estimate for all types of private construction was also revised upward $5.3 billion, making the gains that were posted in September even higher.

Private residential construction in October was 1.7 percent higher than in October of last year when builders spent $235.0 billion, while the total amount builders spent for all private construction was 5.2 percent higher than the $492.9 billion spent a year ago.

Private construction spending on new single-family homes increased 0.6 percent from September to October as builders spent a seasonally adjusted $107.5 billion in October. The estimate in September was downwardly revised from $107.1 billion to $106.9 billion.

Single-family home construction spending was 1.0 percent higher than in October of 2010, when builders spent $106.4 billion on construction.

Multi-family private construction spending declined 0.8 percent from September to October, to a seasonally adjusted annual rate of $14.9 billion. The estimate for September was also downwardly revised from $15.1 billion to $15.0 billion.

Multi-family construction spending was 6.7 percent higher than in October 2010, when builders spent a seasonally adjusted $14.0 billion.

The remainder of the private residential construction spending in October, $116.5 billion, was money spent for any type of construction to an existing structure ranging from remodeling to additions to swimming pools to replacement of major systems such as HVAC systems. This was an increase from an upwardly revised $109.2 billion in September and also up from the $114.5 billion spent in October of 2010.

Tags: residential construction spending, single-family homes, multi-family dwellings, seasonally adjusted annual rate, remodeling, additions

Source:
Census Bureau

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.