According to the U.S. Census Bureau, residential construction spending grew by 0.6% in July. This also includes a seasonally adjusted annual rate of $332.65 billion in June to $334.58 billion in July.  This rate was 17.2% above the $285.55 billion posted in July 2012.

July also saw 0.5% growth in single-family homes to a seasonally adjusted annual rate of $168.19 billion from $167.35 billion in June.  The dollar volume of construction in this sector was 29.3% higher than in July 2012 when expenditures for single family construction totaled $130.09 billion. Of the July residential construction dollar, $15.75 billion was for single family construction and $2.81 billion was for multifamily construction. The respective figures in 2012 were $12.19 billion and $1.98 billion.

The 2013 YTD figure for single family construction is $92.14 billion, 32.9% above the 2012 YTD expenditures of $69.33 billion.  Multifamily construction put in place thus far in 2013 has a value of $17.73 billion, as compared to $11.69 billion YTD in 2012, an increase of 51.7%.

Residential construction expenditures year-to-date in 2013 are at $183.22 billion, surpassing the YTD figure of $151.85 billion in July 2012 by 20.7%.