Private residential construction spending increased 1.7% in March after two months of declines, according to the National Association of Home Builders’ analysis of data from the U.S. Census Bureau. Home improvement, single-family and multifamily construction accounted for the increase, the report said. Year-over-year private residential construction spending was up 3.6%.
Home improvement spending increased 0.9% in March and 14.3% year-over-year, consistent with reports of rising remodeling activity. Single-family construction spending was up 2.7% in March, but down 4.2% year-over-year. Multifamily spending inched up 0.3% in March and 0.5% year-over-year.
“Improvement spending has been on an upward trend since the beginning of 2025, supported in part by the aging housing stock and sustained demand for renovation,” the report said.
Read the full report here.
