On Dec. 30, the Census Bureau announced the value of construction put-in-place in November reached $934.5 billion at a seasonally adjusted annual rate. This figure is the sixth straight increase, rising 1.2% above October’s figures and 7.4% above November 2002 figures.
Private residential and public construction figures continue to rise as well. They saw a 10% and 3% increase, respectively, year-to-date. Down 6%, private residential is still lagging. According to the National Association of Realtors, existing home sales in November dropped 4.6% from October’s rising rate. However, that figure is still 7% above the November 2002 figure. November’s average home selling price was $170,900, up 5.9% from a year before.
