Over the past year, we’ve seen increased construction spending in the U.S., raising 13 percent over the past 12 months. October continued this upward trend with a jump.
“The Commerce Department said Tuesday that construction spending rose 1 percent in October from the previous month to a seasonally adjusted annual rate of more than $1.2 trillion. That’s the highest level since December 2007 when the Great Recession began.” -Florida Realtors
Residential development, for both single family homes and complexes, is increasing as more Americans are buying new homes or renting apartments. These trends are extending beyond residential and commercial builds. Federal, state, and local government construction spending has been rising as well.
Read more about this in the Florida Realtors news post.
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