November Construction Spending Confirms Building Surge
Summary
One of my consistent themes in the past few months has been how the housing market is priming the economy for strong growth in 2021 as soon as the pandemic is brought under control.
November construction spending surged, confirming what we have already been seeing in housing permits and starts.
With the exception of the brief lockdown periods last March and April, residential construction spending is increasing at a pace equivalent to its best in the past five years.
One of my consistent as the pandemic is brought under control. In that vein, November construction spending surged, confirming what we have already been seeing in housing permits and starts.
First of all, here are both total and residential construction spending for the past 15+ years:
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2021 is going to be fun.