This coming Monday, the U.S. Census Bureau will release their Construction Spending report which indicates the total amount of spending in the U.S. on all types of construction. In residential construction, this will predict future national new home sales and mortgage origination volume.
In the last report released in April, total U.S. construction building decreased 1.4% from March to a seasonally adjusted annual rate of $1.219 trillion. This was the first decline since December 2016 and the steepest drop in a year. Previous to that, March decreased 0.2 percent from February and February was up from January by 0.8 percent.
Though this can be equated to bad weather in the Northeast, concerns could be that if numbers don’t increase, the current housing shortage will last even longer.
The May 2017 Construction Spending report will release Monday, June 3 at 2:00 p.m. GMT
This Weeks Schedule:
Fed Monetary Policy Report, Wednesday 3:00 p.m. GMT
MBA Mortgage Applications, Wednesday 7 a.m. EST
Freddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EST
Employment Situation, Friday 8:30 a.m. EST