$854.6 billion.
That's the seasonally adjusted annual rate for private residential construction spending in March 2026, per the Census Bureau's C30 release.
The headline decelerated month-over-month as single-family eased and multifamily continued its slow grind below the 2023 peak. Improvements stayed roughly flat.
Bill McBride at Calculated Risk has flagged residential construction employment as the cleaner read on builder activity, since dollar figures absorb tariff-driven materials-cost inflation that doesn't translate into actual unit deliveries.
For investors holding existing inventory, less new construction means less competition on resale and lease-up over the next 12-18 months.
Full report:
https://t.co/9KMDYCFYbP
Mortgage rates aren't the only factor freezing housing inventory.
- A new analysis shows that in 49 metros, the tax hit from selling an investment property is so severe that it's cheaper to leave the home completely vacant for over five years.
- Like in Los Angeles, an owner would have to pay 19 years of holding costs before vacancy becomes more expensive than the capital gains and depreciation recapture taxes triggered by a sale.
where do you stand with this?
https://t.co/qer9s3x3wF
#realestateinvesting #housingmarket #taxes #realestate
The rich get richer, and their wealth props up housing prices for everyone else.
This explains why 3% price growth is expected in 2025 despite 6.7% mortgage rates.