The U.S. government is reporting that total construction spending in August, 2022 was at a seasonally adjusted annual rate of $1,781.3 billion, which is 0.7% lower than July’s revised estimate but is 8.5% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $912.9 billion in August, which is 0.1% lower than July’s revised estimate.

This article was republished from Real Estate Investing Today, a weekly flow of news from the National REIA.