Spending on private residential construction declines
Today, the U.S. Census Bureau released their latest read of construction spending showing mixed results in April with total private construction spending declining while single family private residential construction spending and non-residential construction spending improved on the month.
On a month-to-month basis, total residential spending declined 0.11% from March climbing 18.78% above the level seen in April 2012 while still remaining a whopping 55.37% below the peak level seen in 2006.
Single family construction spending rose 1.42% since February rising 38.63% since April 2012 but remained a whopping 64.76% below its peak in 2006.
Non-residential construction spending rose 2.19% since March and rising a slight 0.65% above the level seen in April 2012 and remained a whopping 29.60% below the peak level reached in October 2008.
The following chart (click for larger dynamic versions) shows private residential construction spending broken out and plotted since 1993 along with the year-over-year, month-to-month and peak percent change to each since 1994 and 2000 – 2005.
