New data from the U.S. Census Bureau indicated that private residential spending decreased by 0.03% in June. Remodeling and home improvement was the only sector to increase in June, but only by 0.01%. In May, the remodeling sector contributed to the overall bump in construction spending. It was then revised to a 0.4% decline. Compared to a year ago, private spending for remodeling is down 7.2%. Despite the decrease, overall sentiment for remodeling remains positive with continued demand. “In contrast, improvement spending has been on an upward trend since 2023, supported…
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