Private Residential Construction Spending Dips in March

Private residential construction spending inched down 0.2% in March, as spending on single-family construction decreased 0.8%. Spending on private residential construction declined for the tenth month in a row amid elevated mortgage interest rates. Consequently, this spending is 10% lower compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction, which has been… Read More ›