Since 2008, Expenses on New Home Construction Spending at Highest Level

Expenses on new home construction reached its 5 years high in the month of July. This suggests that some of the builders have shrugged off the rising interest rates.

Private residential construction spending rose 0.6% to a seasonally adjusted annual rate of $334.58 billion. Though not adjusted for inflation, which was the highest level since September 2008.

Overall construction spending, which includes commercial and public projects as well as housing, increased 0.6% to $900.82 billion, the highest level since June 2009.

Today number of Americans prefers to buy newly constructed homes rather than pre-owned homes have declined. The National Association of Realtors’ seasonally adjusted index for pending sales of existing homes fell to 109.5 in July, 1.3% lower than the June reading.

Santucci Construction Corporation – Building Contractors and Consultants

For over 30 years, Dom Santucci and Santucci Construction Corp.¹ have been serving the communities in Westchester and Putnam as a premier septic, excavation, and building contractor. Aside from its years of experience, what sets Santucci Construction Corp. aside from other construction companies is Dom and his staff. If you are building your own home but need a little or a lot of guidance, you can call Santucci Construction Corp. Their friendly, helpful staff will take you through the process. They will meet you at your new home site to answer all of your questions and discuss your options.

For all of your home building needs, call Santucci Construction Corp. today at (914) 930-4968. For more details visit www.santucciconstruction.com

---

1. Santucci Construction Corp. : For over 30 years, Dom Santucci and Santucci Construction Corp. have been serving the communities in Westchester and Putnam as a premier septic, excavation, and building contractor. For all of your septic, excavation and building needs, call at (914) 930-4968 or fax us at (914) 737-1334 or you can fill up an online form which is available at www.santucciconstruction.com, so that we can contact you. You can also send mails at info@santucciconstruction.com. Office is located at 2064 East Main Street, Cortlandt Manor, New York 10567.

You can find the original source of article at http://www.xvarticles.com/since-2008-expenses-on-new-home-construction-spending-at-highest-level/