Construction spending during May 2019 was estimated at a seasonally adjusted annual rate of eight-tenths percent below the revised April estimate, the Census Bureau reported.
During the first five months of this year, construction spending amounted to almost $5 billion, down for the same period in 2018.
In response, the National Association of Home Builders said, “Builders report the market is stabilizing following the slowdown at the end of 2018. Furthermore, we anticipate a solid spring home buying season,”.
However, the report indicated many challenges builders faced as they strived to construct affordable homes. In fact, a skilled worker shortage, lack of buildable lots and stiff zoning restrictions were among the biggest
Show Prep Source: https://www.census.gov/construction/c30/c30index.html
Do you have a news tip for our Show Prep on AsktheContractors.com? Send us a comment on the home page.
Recent Show Prep Articles:
- In Hot Market, ‘Full House’ Home in San Francisco Sells for Less Than Asking
- New Buyers Feel They Can Afford More. Here’s Why.
- Good News for Homeowners; Home Prices Rocket in Third Quarter
- COVID-19 Has Impacted Home Purchasing Plans. This is How…
- Couple Rescued After Hurricane Blows Home off it’s Stilts
