Construction spending flatlines in May as homebuilding declines

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Those declines were offset by a 4.8% surge in government construction spending to a record high of $299.4 billion, led by big gains in state and local government spending, which also rose to a.

Homebuilding took a big hit, with private residential spending falling 1.5% after rising 0.5% the month before. Construction spending flatlines in May as homebuilding declines | 2014-07-01.

Computational Thinking Final - Construction Spending Dataset WASHINGTON (AP) – U.S. construction spending was flat in May with homebuilding falling again, even as buyers face climbing prices and a shortage of available properties on the market.

WASHINGTON – Spending on U.S. construction projects fell in May, the first drop in six months, as home building fell for a fifth straight month. The Commerce Department reported Monday that spending fell 0.8% in May, the first decline since a 1.3% drop in November, to a seasonally adjusted annual rate of $1.29 trillion.

Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program Fitch Downgrades National City, Wamu, Others on Home Equity Concerns Construction spending flatlines in May as homebuilding declines In this Thursday, May 9, 2013 photo, workmen pour the concrete deck on the east end of the new interstate 90 bridge under construction in Cleveland.

Spending on private construction projects dropped 0.7% in May to the lowest level since January 2017. That followed a 1.0% decline in the prior month. have now declined for five straight months..

Overall construction spending was reported at a seasonally adjusted annual rate of $1.23 trillion, the same as last month’s revised figure. The flat May number follows April’s decline of 0.7 percent, which was revised from an originally reported drop of 1.7 percent.

Multifamily development picks up despite falling demand Stegman doubles down: White House will not recapitalize Fannie, Freddie Stegman doubles down: White House will not recapitalize Fannie, Freddie – HousingWire freddie mac monthly volume summary september 2015 – freddiemac.com Freddie Mac’s mortgage portfolio sees eighth straight month of Expansion – DS NewsOver the past 10 years, the cumulative shortage is roughly 6 million, an average of 600,000 per year. This was most severe in the years just after the Great Recession when there was little demand. But, in the past few years, as construction in both single-family and multifamily have picked up, the gap has narrowed considerably.

Us Construction Spending Was Unchanged In April As Homebuilding Fell and related news – Financial New Index – Latest Business-Market news from around the web at one place

There was an unexpected decline in construction spending this past. 6 percent in May, the lowest level since December 2016.