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On the week, the Hoya Capital US Housing Index, which tracks the performance of the US housing industry, finished the week higher by 0.3% on solid gains in the Homebuilding. hourly earnings picking.
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In May, the estimated seasonally adjusted annual rate of public construction spending was $340.6 billion, 0.9% below the revised April estimate of $343.7 billion.
The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led.
The uptick in spending was driven by a 1% monthly increase in the homebuilding sector, with a rise in single-family balancing out a slowdown in apartment construction, and a 0.9% month-to-month.
Construction spending for May 2019 US construction spending came in weaker than expected at -0.8% versus 0.0% estimate. The decline was partially offset by a revision higher in the previous month.
February marks 27th straight month of growth for Miami housing market Conforming loan limit remains at $417,000 for 2014 The Federal Housing Finance Agency has announced the maximum conforming loan in most parts of the country (including South Carolina) will increase from $417,000 to $424,100. Stated another way, a borrower will not have to qualify for a "jumbo loan" unless the amount to be borrowed exceeds $424,100.On Friday, statistics canada released gross domestic product data that showed February was a banner month. the last housing bubble. After the market crashed in 1989, inflation in Toronto lagged.
Spending on U.S. construction projects fell in May, the first drop in six months, as home building fell for a fifth straight month. The Commerce Department reported Monday that spending fell 0.8%.
The consensus is for a 0.6% increase in construction spending. The Composite 20 index is off 8.9% from the peak, and up 0.9% (SA) in March. And that means new home construction will slow in those areas too.
U.S. homebuilding fell in May. dropped 0.9% to a seasonally adjusted annual rate of 1.269 million units last month amid a drop in the construction of single-family housing units, the government.
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Spending In April was revised up from a flat reading to a small gain of 0.4%. The weakness in May was widespread with spending on single-family homes and apartments down 0.6% while nonresidential construction fell 0.9%. Spending on government projects also dropped 0.9%, led by a decline in construction spending by the federal government.
U.S. construction spending rose 1% in February, following an upwardly revised 2.5% surge in January, the Commerce Department said in a report today. The value of all construction put in place.