Construction costs throughout July 2023 was approximated at a seasonally changed yearly rate of $1972.6 billion, 0.7% above the modified June price quote of $1958.9 billion. The July figure is 5.5% above the July 2022 price quote of $1,869.3 billion. During the very first 7 months of this year, building costs totaled up to $1,101.5 billion, 3.7% above the $1,062.1 billion for the very same duration in 2022.
Spending on personal building was at a seasonally changed yearly rate of $1,548.9 billion, 1.0% above the modified June price quote of $1,533.7 billion. Residential building was at a seasonally changed yearly rate of $879.0 billion in July, 1.4% above the modified June price quote of $866.8 billion. Nonresidential building was at a seasonally changed yearly rate of $670.0 billion in July, 0.5% above the modified June price quote of $666.9 billion.
In July, the approximated seasonally changed yearly rate of public building costs was $423.7 billion, 0.4% listed below the modified June price quote of $425.2 billion.
Read the Census release.
