Residential Construction Spending Rises in July, Boosted by Strong Single-Family Home Outlays

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Residential Construction Spending Rises in July, Boosted by Strong Single-Family Home Outlays
New construction moves forward in the Portola Springs neighborhood of Irvine, Calif., on Feb. 16, 2021. John Fredricks/The Epoch Times
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

U.S. residential construction spending rose in July, though at a slower pace than in the prior month, as booming demand and rising prices have continued to buoy the housing market.

The Commerce Department said in a Sept. 1 report (pdf) that U.S. residential construction spending rose by 0.5 percent in July, after advancing by 0.8 percent in June.
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Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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