Reports by NAHB Housing Policy Economist Na Zhao say that private residential construction spending was at $433.2 billion in January.
The year over year growth is strong, at 7.7% from January 2015. It's the highest rate in multifamily construction since November 2007.
Multifamily construction is the strongest segment of the residential spending market. Total multifamily spending was at a seasonally adjusted annual rate of $59.8 billion in January 2016. This is a 30% increase year over year.
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