While economists continue to debate and assess the state of the economy, home builders realize that construction spending is definitely on the way up. This single fact bodes well for the U.S. economy as a whole, but most especially for those involved in residential and commercial real estate.
In the month of November, construction spending in the United States rose at the strongest rate in more than half a decade. In particular, construction spending was up over 1% to almost a trillion dollars. That’s the fastest increase since early in 2009.
Unusually, spending on apartment buildings has spurred the recent growth with single -family homes not far behind. As is typical, commercial spending has lagged but shows some significant strengthening in he past quarter. It really looks like the promised recovery has finally arrived.
For more information on these and other construction topics or if you are looking for the best Kansas City lumberyard with the widest selection, please visit us at Schutte Lumber.
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