Residential construction could indicate consumers returning to market

  • Residential construction will account for more than 35 percent of all U.S. construction spending this year.
  • “Permit growth indicates that our members feel confident that consumers are returning to the market,” said Tom Woods, chairman for the National Association of Home Builders (NAHB).
  • Despite this confidence, Woods noted that builders are reporting concerns with lot and labor availability.

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Based on annual rates, residential construction will account for more than 35 percent of all U.S. construction spending this year.