Private Residential Construction Spending Declines in February

Econ & Housing

By Na Zhao on April 3, 2023 • Private residential construction spending declined 0.6% in February, as spending on single-family construction decreased 1.8%. Spending declined for the ninth month in a row amid elevated mortgage interest rates. Consequently, private residential construction is 5.7% lower compared to a year ago. The monthly decline is largely attributed…

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