Single-Family Home Building Pushes Residential Construction Spending Higher
Single-Family Home Building Pushes Residential Construction Spending Higher
Single-Family Home Building Pushes Residential Construction Spending Higher
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May 2, 2012 (Shirley Allen)

Private residential construction spending edged higher in March as builders increased spending to build single-family homes while multi-family spending declined slightly according to the U.S. Census Bureau.

Spending for private residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, up 0.7 percent from a revised estimate of $242.5 billion in February.

Total monthly spending by builders for both residential and non-residential private construction was at a seasonally adjusted annual rate of $531.9 billion, up from the revised estimate of $528.1 billion in February.

The estimate for private residential construction spending in February was revised downward almost $4.0 billion, turning February’s reported 0.4 percent increase into a 1.6 percent decline, while the estimate for all private construction, which had been reported as a 1.3 percent decline, was revised upward by $1.0 billion, leaving February with a 0.6 percent decline.

Builders spent 7.4 percent more on private residential construction in March than they did a year ago when $227.3 billion was spent, while the total amount builders spent for all private construction was 11.5 percent higher than the $477.2 billion spent in March of last year.

Construction spending for new private single-family homes increased 3.8 percent from February to March with builders spending a seasonally adjusted $116.9 billion in March. The estimate for February was revised upward from $111.5 billion to $112.6 billion.

Single-family home construction spending was 10.3 percent higher than in March of 2011, when builders spent $105.9 billion on building new single-family homes.

Multi-family private construction spending was 3.1 percent lower than in February, falling to a seasonally adjusted annual rate of $16.6 billion. The estimate for February was revised downward from $17.2 billion to $17.1 billion.

Multi-family construction spending was 23.3 percent higher than in March of last year, when builders spent a seasonally adjusted $13.5 billion on multi-family dwellings.

The remainder of the private residential construction spending in March, $110.6 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 a decline from a downwardly revised $112.7 billion in February but up from the $107.9 billion spent in March of 2011.

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

Source:
Census Bureau

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May 2, 2012 (Shirley Allen)

Private residential construction spending edged higher in March as builders increased spending to build single-family homes while multi-family spending declined slightly according to the U.S. Census Bureau.

Spending for private residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, up 0.7 percent from a revised estimate of $242.5 billion in February.

Total monthly spending by builders for both residential and non-residential private construction was at a seasonally adjusted annual rate of $531.9 billion, up from the revised estimate of $528.1 billion in February.

The estimate for private residential construction spending in February was revised downward almost $4.0 billion, turning February’s reported 0.4 percent increase into a 1.6 percent decline, while the estimate for all private construction, which had been reported as a 1.3 percent decline, was revised upward by $1.0 billion, leaving February with a 0.6 percent decline.

Builders spent 7.4 percent more on private residential construction in March than they did a year ago when $227.3 billion was spent, while the total amount builders spent for all private construction was 11.5 percent higher than the $477.2 billion spent in March of last year.

Construction spending for new private single-family homes increased 3.8 percent from February to March with builders spending a seasonally adjusted $116.9 billion in March. The estimate for February was revised upward from $111.5 billion to $112.6 billion.

Single-family home construction spending was 10.3 percent higher than in March of 2011, when builders spent $105.9 billion on building new single-family homes.

Multi-family private construction spending was 3.1 percent lower than in February, falling to a seasonally adjusted annual rate of $16.6 billion. The estimate for February was revised downward from $17.2 billion to $17.1 billion.

Multi-family construction spending was 23.3 percent higher than in March of last year, when builders spent a seasonally adjusted $13.5 billion on multi-family dwellings.

The remainder of the private residential construction spending in March, $110.6 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 a decline from a downwardly revised $112.7 billion in February but up from the $107.9 billion spent in March of 2011.

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.
WE VERIFY & TRANSMIT TO LENDERS
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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.
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May 2, 2012 (Shirley Allen)

Private residential construction spending edged higher in March as builders increased spending to build single-family homes while multi-family spending declined slightly according to the U.S. Census Bureau.

Spending for private residential construction was at a seasonally adjusted annual rate of $244.1 billion in March, up 0.7 percent from a revised estimate of $242.5 billion in February.

Total monthly spending by builders for both residential and non-residential private construction was at a seasonally adjusted annual rate of $531.9 billion, up from the revised estimate of $528.1 billion in February.

The estimate for private residential construction spending in February was revised downward almost $4.0 billion, turning February’s reported 0.4 percent increase into a 1.6 percent decline, while the estimate for all private construction, which had been reported as a 1.3 percent decline, was revised upward by $1.0 billion, leaving February with a 0.6 percent decline.

Builders spent 7.4 percent more on private residential construction in March than they did a year ago when $227.3 billion was spent, while the total amount builders spent for all private construction was 11.5 percent higher than the $477.2 billion spent in March of last year.

Construction spending for new private single-family homes increased 3.8 percent from February to March with builders spending a seasonally adjusted $116.9 billion in March. The estimate for February was revised upward from $111.5 billion to $112.6 billion.

Single-family home construction spending was 10.3 percent higher than in March of 2011, when builders spent $105.9 billion on building new single-family homes.

Multi-family private construction spending was 3.1 percent lower than in February, falling to a seasonally adjusted annual rate of $16.6 billion. The estimate for February was revised downward from $17.2 billion to $17.1 billion.

Multi-family construction spending was 23.3 percent higher than in March of last year, when builders spent a seasonally adjusted $13.5 billion on multi-family dwellings.

The remainder of the private residential construction spending in March, $110.6 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 a decline from a downwardly revised $112.7 billion in February but up from the $107.9 billion spent in March of 2011.

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.