Private Residential Construction Spending Declines in April

Construction spending inched down in April. According to the Calculated Risk blog, which cites data from the U.S. Census Bureau, private residential construction spending fell by 4.8% year-over-year. Additionally, spending for the private residential sector is still 8.9% below its peak in 2022.

Overall, spending on private construction was at a seasonally adjusted annual rate of $1.638 billion, which is 0.7% below the revised March estimate of $1.650 billion. This drop is slightly greater than the decline in spending seen by the construction industry as a whole.

Construction spending during April 2025 was estimated at a seasonally adjusted annual rate of $2,152.4 billion, 0.4 percent below the revised March estimate of $2,162.0 billion. The April figure is 0.5 percent below the April 2024 estimate of $2,163.2 billion. During the first four months of this year, construction spending amounted to $660.2 billion, 1.4 percent above the $651.3 billion for the same period in 2024.