Spending for single-family construction increased for the second month in a row in July, increasing 7% compared to June. This translates into a seasonally adjusted level of $ 100.9 billion, which is 45.5% below July 2008’s level, according to figures released Tuesday by the U.S. Census Bureau.
Overall, construction spending declined in July, slipping 0.2% to a seasonally adjusted level of $959.5 billion compared to June. These July figures stand 10.5% below the same month one year ago.
Multifamily struggled in July, declining 3.3% compared to the previous month to a seasonally adjusted level of $29.2 billion. That is 36.6% below the same month one year ago in this category.
Alison Rice is senior editor, online, at BUILDER magazine.