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Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.Recap and Charts: July Construction Spending Data
Posted to:
MND NewsWire
Wednesday, September 01, 2010 2:31 PM
The Census Bureau today released Construction Spending data for July 2010.
Residential construction spending includes remodeling, additions, and
major replacements to owner occupied properties subsequent to completion
of original building. It includes construction of additional housing
units in existing residential structures, finishing of basements and
attics, modernization of kitchens, bathrooms, etc. Also included are
improvements outside of residential structures, such as the addition of
swimming pools and garages, and replacement of major equipment items
such as water heaters, furnaces and central air-conditioners.
Maintenance and repair work is not included.
The value of all
construction put in place in the U.S. on an annualized basis was $805.2 billion
compared to a rate of $813.1 billion in June.
One year earlier the pace of construction was $901.2 billion, a
year-over-year decline of 10.7 percent.
The residential portion of that construction spending in July was $250.52 billion
compared to $256.90 billion in June, the third consecutive monthly decline in residential outlays. Still while the pace of total construction spending
is off 10.7 percent from one year ago, residential spending is up 6.0 percent.
[Image or graph removed from email. View full article with images]
While the pace of
construction for the year has slowed, the non-adjusted monthly residential figures
are a little more encouraging. The
residential sector accounted for $23.97 billion in construction value in July
compared to $23.51 billion in June and $22.83 billion one year earlier, a 3.4 percent increase.
[Image or graph removed from email. View full article with images]
Nearly half of the
$45.42 billion spent in private sector construction in July was residential, a
total of $22.95 billion. This is a
larger share of the private sector pie than one year ago when all private
sector construction in July totaled $51.61 billion, only $22.06 billion of it
residential. Thus far in 2010 private construction has
totaled $295.5 billion, a 14.6 percent decline from last July while total
residential spending is $140.77 billion, up 2.8 percent.
Public construction
spending on a seasonally adjusted, annualized basis was 298.8 billion in July
compared to $302.44 billion in June and $324.55 billion one year earlier, a
decrease of 7.9 percent. Once again, even
though public sector spending is down from one year ago, the current
residential share is running much higher; one year ago the annual rate was
$8.72 billion, in June it was $10.23 billion and in July $10.27 billion, a 17.8 percent increase over
last year. On a monthly basis, public
sector residential spending looks even better.
While the $912 million in expenditures in July was down from $936 million
in June, each of the three previous months had come in at least $100 million
lower. This year to date $5.36 billion
in public residential construction has been put in place, a 21.2 percent
increase over figures in July 2009
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Anonymous Anonymous |
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Message:
YOUR MESSAGE HERE
Recap and Charts: July Construction Spending Data
Posted to:
MND NewsWire
Wednesday, September 01, 2010 2:31 PM
The Census Bureau today released Construction Spending data for July 2010.
Residential construction spending includes remodeling, additions, and
major replacements to owner occupied properties subsequent to completion
of original building. It includes construction of additional housing
units in existing residential structures, finishing of basements and
attics, modernization of kitchens, bathrooms, etc. Also included are
improvements outside of residential structures, such as the addition of
swimming pools and garages, and replacement of major equipment items
such as water heaters, furnaces and central air-conditioners.
Maintenance and repair work is not included.
The value of all
construction put in place in the U.S. on an annualized basis was $805.2 billion
compared to a rate of $813.1 billion in June.
One year earlier the pace of construction was $901.2 billion, a
year-over-year decline of 10.7 percent.
The residential portion of that construction spending in July was $250.52 billion
compared to $256.90 billion in June, the third consecutive monthly decline in residential outlays. Still while the pace of total construction spending
is off 10.7 percent from one year ago, residential spending is up 6.0 percent.
While the pace of
construction for the year has slowed, the non-adjusted monthly residential figures
are a little more encouraging. The
residential sector accounted for $23.97 billion in construction value in July
compared to $23.51 billion in June and $22.83 billion one year earlier, a 3.4 percent increase.
Nearly half of the
$45.42 billion spent in private sector construction in July was residential, a
total of $22.95 billion. This is a
larger share of the private sector pie than one year ago when all private
sector construction in July totaled $51.61 billion, only $22.06 billion of it
residential. Thus far in 2010 private construction has
totaled $295.5 billion, a 14.6 percent decline from last July while total
residential spending is $140.77 billion, up 2.8 percent.
Public construction
spending on a seasonally adjusted, annualized basis was 298.8 billion in July
compared to $302.44 billion in June and $324.55 billion one year earlier, a
decrease of 7.9 percent. Once again, even
though public sector spending is down from one year ago, the current
residential share is running much higher; one year ago the annual rate was
$8.72 billion, in June it was $10.23 billion and in July $10.27 billion, a 17.8 percent increase over
last year. On a monthly basis, public
sector residential spending looks even better.
While the $912 million in expenditures in July was down from $936 million
in June, each of the three previous months had come in at least $100 million
lower. This year to date $5.36 billion
in public residential construction has been put in place, a 21.2 percent
increase over figures in July 2009
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