A recent article was published on the National Association of Home Builders website that multifamily construction spending hit a record high.
The Census Bureau released the new construction spending for multifamily and the report included a significant upward revision of spending to the multifamily construction. The annual rate, as of January 2016, for multifamily spending was $59.8 billion which is a 30% rise over a year ago. While the private residential construction spending stood at a rate of $433.2 billion, which was unscathed from December’s rate of $433.1 billion.
For the full report please visit: http://eyeonhousing.org/2016/03/multifamily-construction-spending-hits-record-high/
References
Zhao, N. (2016, March 01). Eye on Housing. Retrieved from National Association of Home Builders Discusses Economics and Housing Policy: www.eyeonhousing.org