NAHB analysis of Census construction spending data shows that total private residential construction spending for December increased to a seasonally adjusted annual rate of $430 billion. On a month-over-month basis, private single-family spending was $231 billion, up by 1% over the revised November estimate. Private multifamily spending also increased to $53 billion, up by 2.66%. Over the same period, private construction spending on home improvements increased 0.12%. Annually, the pace of multifamily is up 12% from the November 2014 estimate, and spending on single-family construction was 9% higher. Over the same period private construction spending on home improvements increased 5.9%.
Read more at NAHB Eye On Housing