Revisions to the seasonally adjusted improvement spending data shows that improvement spending has grown during the spring at the highest pace since 2007. The new data supports the conclusions of the National Association of Home Builders after their remodeler surveys suggested that the market conditions were improving. The Census construction spending report showed that May had the highest seasonally adjusted rate of private residential construction spending since 2008, at $332.2 billion. The recent report showed that June remained relatively unchanged, matching the same pace at 18.1 percent higher than one year previous. In the meantime, single-family spending declined slightly.
Read the full article here: Construction Spending: Improvement Spending Shows Strength