The National Association of Home Builders (NAHB) through an analysis of Census data in construction spending, has concluded that spending in private residential construction increased in September to $395 billion. This is part of a growing trend in construction spending, where spending on private multifamily living rose to 27% from September 2014. Furthermore, spending on single-family construction rose to 13% higher than in 2014.
The NAHB-constructed spending index indicates that recent gains have been driven by the steady increase in multifamily construction spending. The pace of the multifamily spending is gradually slowing. NAHB anticipates accelerating growth for single-family spending in 2015.
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