Residential construction spending spiked in January, rising 5.1% from December — the largest monthly jump since at least June 2003 (the first month for which Census construction spending data is available), according to data recently released by the U.S. Census Bureau.
Private residential construction increased 5.3%, but remained 7.7% below year-ago levels. Single-family gained 0.8% but lost 4.8% from the previous year. Multifamily lost 2.9% from the previous month and declined a whopping 20.1% from January 2010. (Builder Online)
