The Construction Spending series has been updated today, Oct 3, 2011. The data brings it to August 1st, 2011, it is a lagging indicator for the building industry but nice to look back in perspective.
Here is the Private Residential Construction Spending graph to August 1st, 2011. It shows us we are spending about as much as we did 1994. I wonder how the units compare to the spending, it is far more expensive to build a unit today than it was in 1994… Interesting though.
I won’t spend much time on this, because it’s national stats and I am more interested in local regional data. I suspect later this week the regional data might be released.
If you are interested in looking further into this, Post a Comment or shoot me an email and I can dig up more information. Otherwise Calculated Risk has a pretty good post on this topic.