Tag: single family homes

US Construction Spending Drops for Second Month as Housing Recession Deepens

Construction spending in the United States—an indicator of total spending on all types of construction—fell in August for the second month as the housing market declines further into a recession. Construction spending last month was estimated at “a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the revised July estimate of $1,793.5 billion,”…


Homebuilder Sentiment Closes Year With High Confidence

Homebuilder confidence inched toward the highest reading of the year despite product shortages and a 39-year-high inflation rate that has prompted the Fed to halt aggressive pandemic-era stimulus programs and increase interest rates. Strong consumer demand for housing, combined with limited existing inventory, buoyed homebuilder confidence as the NAHB/Wells Fargo Housing Market Index (HMI) released…