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.
PB Topical Ref
