According to the National Association of Home Builders, the spending on private residential construction increased 2.2% in December 2012. Spending in November was higher than estimated, at 0.6%, and October also showed a appreciable jump at 3.2%. These months mark nine months of uninterrupted growth in private spending, as well as expansion for all but one of the last seventeen months. Spending has reached its highest dollar amount since 2008. Spending on single-family homes has reached its greatest deceleration since early 2012, but the overall spending on new homes has still risen 28% on a year-to-year basis.
Read the full article here: Positive Run Continues for Residential Construction Spending