By Jann Swanson | Mortgage News Daily
Residential construction spending performed slightly better than construction spending as a whole in September although the entire construction sector was relatively flat. The residential increase was present in both private and public spending in the report issued Monday by the U.S. Census Bureau.
Total construction spending was at a seasonally adjusted annual rate of $1,094.2 billion, up 0.6 percent from August and 14.1 percent higher than a year earlier. On a non-seasonally adjusted basis spending was $102.1 billion compared to $101.3 billion in August. Spending year-to-date in 2015 totals $786.6 billion, a 10.5 percent increase over spending through the end of September in 2014.
