Commerce Department

More Positive News for Chicago New Homes Construction

Construction spending in August dropped by more than it has in over a year, but that doesn’t mean the national and Chicago new homes markets aren’t improving. According to the Commerce Department, construction spending in the U.S. fell for the second straight month in August to a seasonally adjusted annual rate of $837.1 billion. The …

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New-Home Construction a Long Way from Stable

U.S. construction spending fell in February, though the year is still off to a better start than the previous one. According to the Commerce Department, construction spending throughout the country during February 2012 was estimated at a seasonally adjusted annual rate of $808.9 billion. That’s a drop of 1.1 percent over January’s estimate and is …

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Construction Spending Falls to Start the Year

Construction spending dropped last month for the first time in months, though it wasn’t the housing sector that brought it down. According to the Commerce Department, U.S. construction spending fell 0.1 percent a seasonally adjusted annual rate of $827.0 billion in January to mark its first decline since July. Experts had expected to see an …

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New U.S. Home Sales Start Week on Gloomy Note

Last month’s sales numbers on new U.S. homes has experts believing that the housing market is years away from recovering. The Commerce Department reported Monday that new-home sales fell 2.3 percent to a seasonally adjusted annual rate of 295,000 in August. In a healthy housing market, the rate would be about 700,000. The decline equals …

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