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New Construction Spending For July 2024

By
Industry Observer CDRE #01044712

On September 3, 2024, the U.S. Census Bureau reported nationwide construction spending down 0.3% to $2,162.7 billion in July of 2024 from $2,169.0 billion June of 2024, but rose 6.7% from $2,027.4 billion in July of 2023.

Nationwide private construction lost 0.4% to $1,678.7 billion in July of 2024 from $1,585.5 billion in June of 2024.

Residential construction decreased 0.4% of $941.6 billion in July of 20234 from $945.3 billion June of 2024.

Non residential construction declined 0.4% to $737.2 billion in July of 2024 from $740.2 billion in June of 2024.

The public construction increased 0.1% to $484.0 billion in July of 2024 from $425.2 billion in June of 2024.

The educational construction lower 0.9% to $100.8 billion in July of 2024 from $101.8 billion in June of 2024.

The highway construction dropped 0.6% to $140.9 billion in July of 2024 from $142.0 billion in June of 2024.

For complete more detailed information about the U.S. Census Bureau on monthly construction spending in July of 2024, please click HERE

Posted by

John Pusa

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Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning John. I currently live in an area with and abundance of new construction. Some residential builders are building up an inventory of specs. They must know something I don't. Enjoy your day.

Sep 04, 2024 06:04 AM
John Pusa

Hello Wayne Martin enjoy your day too, and thank you for the comment.

Sep 04, 2024 08:11 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for sharing and enjoy your week!

Bill Salvatore, Realtor- Arizona Elite Properties

Sep 04, 2024 07:04 AM
John Pusa

Hello Bill Salvatore - East Valley enjoy your week too, and thank you for the comment.

Sep 04, 2024 08:12 PM
Roy Kelley
Retired - Gaithersburg, MD

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

Have a great day and a very productive week.

Sep 04, 2024 07:55 AM
John Pusa

Hello Roy Kelley have a great day and productive week too. Thank you for the comment.

Sep 04, 2024 08:13 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John here in my market New Construction is a hard find.... thanks to the building approval process of 2 - 3 years, Endre

Sep 04, 2024 11:52 PM
John Pusa

Hello Endre Barath, Jr. in you market area new construction is a very difficult process. Thank you for the comment.

 
Sep 05, 2024 02:10 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTORĀ® Real Estate in East Valley AZ

The spending for new construction blows my mind and if that much is being spent, I don't understand why there is a shortage of housing in some areas, haha.

Sep 05, 2024 06:33 AM
John Pusa

Hello Brian England you are right, there is a shortage housing despite the spending for new construction. Thank you for the comment.

 
Sep 05, 2024 02:11 PM