NAHB reports monthly increase in single-family construction spending

According to the NAHB, total private residential spending increased over the revised August estimate to a seasonally adjusted annual rate of $349.1 billion.

September saw a month-over-month increase of 0.4 percent, driven by a solid month-over-month increase in the single-family component of private residential construction. On the other hand, multifamily spending decreased by 1.0 percent while home improvements spending fell 0.3 percent over the revised August estimate.

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