Single, Multi-family Construction Increase
NAHB analysis of Census construction spending data found that on a 3-month moving average basis, from January 2014, single-family construction spending increased 11.4% and multifamily construction spending increased 28.9%, writes Josh Miller in the association's Eye On Housing.
The seasonally adjusted annual spending for single-family construction was $204.9 billion and $48.9 billion for multifamily construction. Both single and multi-family construction showed an increase over December estimates, with single-family up 0.6% and multi-family up almost 2%, month-over-month. The association remains optimistic, citing improving market conditions showing up with positive builder sentiment in both market segments, supported by low vacancy rates in apartment buildings, new home sales increases and an improving labor market.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
