According to recent data released from the U.S. Census Bureau, residential construction spending is up 0.3% from April and increased 1.8% year-over-year. This is largely attributed to an increase in remodeling spending, which rose 0.9% in May and 8.1% year-over-year. Remodeling was the only sector to report a monthly increase, with both new residential construction and multifamily construction reporting a 0.1% dip. “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,” said Catherine Koh, an economist at the National…
Read MoreWednesday, July 8, 2026
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