The Home Buyer's Korner

Information presented should be used for educational purposes only.

August 11th, 2015

Guy looking up in color

Construction Spending for June 2015

c

Construction spending barely bugged in June and private outlays posted their biggest drop in a year! However, housing economist continue to point to the underlying trend and suggest that the economy remained on solid ground.

 

Construction spending increased 0.1 percent and was the smallest rise since January as reported by the Commerce Department.

The bright news came from May’s revised outlays that were up sharply higher to show a 1.8 percent gain instead of the previously reported 0.8 percent rise. Housing economists polled before the report forecasted construction spending would rise 0.6 percent in June. Overall, construction spending is up 12 percent compared to June of last year.

In June, construction spending was restrained by a 0.5 percent drop in private construction spending; the largest decrease since June 2014. Spending on private non-residential construction projects fell 1.3 percent, the biggest drop since January 2013. Spending on nonresidential structures has been undermined by investment cutbacks in the energy sector in response to the tumble in crude oil prices.

Outlays on private residential construction, however, rose 0.4 percent to their highest level since May 2008, reflecting gains in home building and a bump up in renovations as more home owners are looking to do sorely needed home improvements.

Public construction outlays advanced by 1.6 percent to their highest level since November 2010. Spending on state and local government projects – the largest portion of the public sector segment – surged 2.2 percent to the highest level since September 2010. Federal government outlays dropped 4.7 percent, the biggest fall since January.

HOME OWNERSHIP TOOLS

FHA 203K

Your Home Purchasing or Refinancing & Renovation Tool

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

FANNIE MAE HOMESTYLE

The Conventional Alternative to FHA 203K

Great for Real Estate Investors and Second Home Renovations

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

USDA RURAL DEVELOPMENT

Up to $10K for Home Improvements, Renovations or a Simple Remodel

Mortgage Loan Officers, Real Estate Agents & General Contractors

are ready to assist you with your home purchase

A SIMPLE HOME SHOPPING INSPECTION TOOL

Organizing your home shopping experience affords a wise decision making process.

This simple home inspection tool makes your ultimate buying decision a smart one.

To print this document click on “Open in New Window” located at the lower right corner;

click on “File”; then click on “Print”. In the center of the screen you will have the option

to “Create A Printable PDF of the Presentation”.

JOIN OUR REAL ESTATE SOCIAL MEDIA NETWORK

The Home Buyer's Korner

Real Estate Marketing Blogs and Coaching

Mortgage Lenders Social Media Marketing Blogs

General Contractors Renovation Network

LINKEDIN

Twitter

PINTEREST

Facebook Group 2

Join us at Real Estate Social

Comments are closed.