New Construction Spending For August 2023

By
Real Estate Agent with Berkshire Hathaway Home Services Crest CDRE #01044712

On October 2, 2023, the U.S. Census Bureau reported nationwide construction spending higher 0.5% to $1,983.5 billion in August of 2023 from $1,973.7 billion July of 2023, and jumped 7.4% from $1,847.3 billion in August of 2022.

Nationwide private construction up 0.5% to $1,551.8 billion in August of 2023 from $1,544.6 billion in July of 2023.

Residential construction increased 0.6% of $879.9 billion in August of 2023 from $874.7 billion July of 2023.

Non residential construction gained 0.3% to $671.9 billion in August of 2023 from $669.9 billion in July of 2023.

The public construction rose 0.6% to $431.6 billion in August of 2023 from $429.1 billion in July of 2023.

The educational construction grew 0.2% to $90.6 billion in August of 2023 from $90.4 billion in July of 2023.

The highway construction up 0.4% to $130.4 billion in August of 2023 from $130.0 billion in July of 2023.

For complete more detailed information about the U.S. Census Bureau on monthly construction spending in August of 2023, please click HERE

Posted by

John Pusa

Real estate agent, Glendale, CA

Better way to buy and sell real estate

Berkshire Hathaway Home Services Crest

Office (818) 441-8881

Mobile (818) 441-8881

4005 Foothill Blvd.

La Crescenta, CA. 91214

Comments (14)

Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Thanks for sharing John!!! Great information & positive news!!!

U.S. Census Bureau reported nationwide construction spending higher 0.5% to $1,983.5 billion in August of 2023 from $1,973.7 billion July of 2023, and jumped 7.4% from $1,847.3 billion in August of 2022.

 

Oct 03, 2023 06:01 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and enjoy your week! 

Bill Salvatore, Realtor- Arizona Elite Properties

Oct 03, 2023 06:18 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning John,

Good recap of construction spending in August 20023. Thank you for the info.

Oct 03, 2023 07:04 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, John, for sharing this report.

Have a great day and an outstanding week.

Oct 03, 2023 07:32 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Sham Reddy CRS you are welcome, and glad you find the report very information & positive news. Thanks for the comment.

Oct 03, 2023 02:36 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Bill Salvatore - East Valley you are welcome, and glad you find the report very informative, enjoy your week too! Thanks for the comment.

Oct 03, 2023 02:38 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Good afternoon Dorie Dillard Austin TX you are welcome, and glad you find the construction spending in August 20023 very informative and helpful. Thanks for the comment.

Oct 03, 2023 02:39 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Roy Kelley you are very welcome, and glad you find this report very helpful. Thank you, have a great day and an outstanding week too. Thanks for the comment. 

Oct 03, 2023 02:41 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John Pusa  if memory serves me right yesterday's post showed that construction is down 45% now with that said go figure price of construction is up, that might also be part of the problem... the costs...Endre

Oct 03, 2023 09:03 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Perhaps I am wrong, but it doesn't seem that new construction ever really suffers, and builders are definitely greedy, haha.

Oct 04, 2023 04:29 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Endre Barath, Jr. you are right, Monday's post showed that construction is down 45% now with that said go figure price of construction is up, the cost might also be part of the problem. Thanks for the comment.

Oct 04, 2023 03:44 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Brian England you are not wrong, it doesn't seem that new construction ever really suffers, and builders are definitely higher profit, haha. Thanks for the comment.

Oct 04, 2023 03:45 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Oct 07, 2023 06:44 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Kristin Johnston - REALTOR® you are welcome, and glad you find the report very helpful. Enjoy your day too! Thanks for the comment.

Oct 07, 2023 02:40 PM