REALTOR® Magazine-Daily News-Construction Spending Rises

REALTOR® Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Search REALTORMag...

OR FOCUS YOUR SEARCH

NEWS & COMMENTARY

Inside For Brokers

Connect

Social Networking

Follow, fan, or friend us online.

Your Magazine

Magnifying your voice and celebrating your accomplishments

CURRENT ISSUE

PAST ISSUES

Daily Real Estate News | June 2, 2009 | Construction Spending Rises
Construction spending rose 0.8 percent in April, the most since last August and a reversal of the drop analysts predicted.

The U.S. Commerce Department said yesterday that residential construction was up 0.6 percent.

Non-residential construction, including public projects, increased 0.8 percent. Compared with a year earlier, it was up 2.5 percent.

Public construction decreased 0.6 percent, but these are expected to increase in the coming months as federal dollars filter through.

“Residential construction may be bottoming,” says Steven Wood, president of Insight Economics LLC in Danville, Calif.. “Over the next several quarters, federal stimulus dollars may support public construction activity despite weak state and local government funding.”

Source: Bloomberg, Bob Willis and Courtney Schlisserman (06/01/2009)