REAL ESTATE NEWS

CONSTRUCTION SPENDING RISES IN MARCH
Construction spending during March rose 0.2 percent to a seasonally adjusted annual rate of $942.5 billion compared with February’s estimate of $940.8 billion, the U.S. Census Bureau of the Dept. of Commerce announced.

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The March figure is 8.4 percent above the March 2013 estimate of $869.2 billion. During the first three months of this year, construction spending amounted to $196.6 billion, 8.3 percent above the $181.6 billion for the same period in 2013. 

Residential construction was at a seasonally adjusted annual rate of $369.8 billion in March, 0.8 percent above the revised February estimate of $367.0 billion.