Mortgage News Daily
The total amount of construction put in place nationally fell in April, but continues at a pace higher than at the same point in 2016. The U.S. Census Bureau puts the seasonally adjusted annual rate of spending on all types of construction during the month at $1.22 trillion, a decrease of 1.4 percent from the March total, but up 6.7 percent from April of last year. The month-over-month decline was nearly universal; the only sector to post a gain was “water supply.” Total spending on residential construction was down 0.9 percent from March but was 15.6 percent higher than a year earlier.
On a non-seasonally adjusted basis, there was $98.10 billion spent in total, compared to $94.79 billion in March. Year to date expenditures, at $359.53 billion, are 5.8 percent ahead of the same period in 2016.
