Residential Construction Spending Inches Up

Spending for residential construction inched further up in March. According to the Calculated Risk blog, which cites data from the U.S. Census Bureau, private residential construction spending increased by 2.8% on a year-over-year basis. This is comparatively higher than the rate of growth seen by the construction industry as a whole during March. Total construction spending during March 2025 was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5% below the February estimate of $2,206.9 billion. However, when looking at the data on a year-over-year basis, total construction spending is also up by 2.8% higher than the March 2024 estimate of $2,135.8 billion.

Spending on private construction was at a seasonally adjusted annual rate of $1,688.0 billion, 0.6 percent below the revised February estimate of $1,697.7 billion.

In March, the estimated seasonally adjusted annual rate of public construction spending was $508.1 billion, 0.2 percent below the revised February estimate of $509.2 billion. Read more