New Construction Spending For October 2023

By
Industry Observer CDRE #01044712

On December 1, 2023 the U.S. Census Bureau reported nationwide construction spending higher 0.6% to $2,027.1 billion in October of 2023 from $2,014.7 billion September of 2023, and rose 10.7% from $1,830.5 billion in October of 2022.

Nationwide private construction up 0.7% to $1,579.3 billion in October of 2023 from $1,567.9 billion in September of 2023.

Residential construction increased 1.2% of $884.4 billion in October of 2023 from $873.6 billion September of 2023.

Non residential construction gained 0.1% to $694.8 billion in October of 2023 from $694.2 billion in September of 2023.

The public construction grew 0.2% to $447.8 billion in October of 2023 from $446.9 billion in September of 2023.

The educational construction higher 0.4% to $97.2 billion in October of 2023 from $96.7 billion in September of 2023.

The highway construction dropped 0.3% to $132.0 billion in October of 2023 from $12.43 billion in September of 2023.

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

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John Pusa

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Comments (10)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Well if there is an increase in new construction prices hope it is not inflation but actually more building start ups:)Endre

Dec 07, 2023 10:32 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Dec 08, 2023 03:20 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

New Construction continues to excel here.  Have a wonderful weekend. Go Army. beat Navy!

Dec 08, 2023 04:23 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning John. Just read where new construction is down in Illinois but could be due to the amount of road construction blocking access to buildable property.  Enjoy your day.

Dec 08, 2023 04:48 AM
John Pusa
Glendale, CA

Hello Endre Barath, Jr. you are right, if there is an increase in new construction prices hope it is not inflation but actually more building start ups. Thanks for the comment.

Dec 08, 2023 01:44 PM
John Pusa
Glendale, CA

Hello Richard Weeks you are welcome, and glad you find the report very informative. Thank you, and I hope you have a great day too. Thanks for the comment.

Dec 08, 2023 01:46 PM
John Pusa
Glendale, CA

Hello Bill Salvatore - East Valley you are right, new Construction continues to excel in many areas. Thank you, and have a wonderful weekend too. Thanks for the comment.

Dec 08, 2023 01:49 PM
John Pusa
Glendale, CA

Good afternoon WayneWayne Martin it is interesting news that new construction is down in Illinois but could be due to the amount of road construction blocking access to buildable property. Thank you, and enjoy your day too. Thanks for the comment.

Dec 08, 2023 01:51 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seeing those numbers reminds me of how much money there is in the world.  With all of that money being spent, perhaps Endre Barath, Jr. is right about me having a lot of money, I just need to find it, haha.

Dec 09, 2023 05:21 AM
John Pusa
Glendale, CA

Hello Brian England very true, seeing those numbers reminds you of how much money there is in the world. With all of that money being spent, perhaps Endre Barath, Jr. is right about you having a lot of money, you just need to find it, haha. Thanks for the comment.

Dec 09, 2023 01:51 PM