Private residential construction spending in April increased by 0.5%, with a 0.6% rise in spending on multi family homes. This marks the first increase since June 2022, despite higher mortgage interest rates. However, compared to the previous year, spending is still 9.2% lower. The growth in total construction spending is largely driven by increased investment in multifamily construction, which has seen continuous monthly increases since August 2022. Spending on single-family construction, on the other hand, decreased by 0.8% in April and is 24.7% lower than a year ago. The NAHB construction spending index shows a slowdown in single-family construction due to supply-chain issues and high interest rates, while multifamily construction has experienced steady growth.
ABOUT ME Hello there. I am Nagaraj Annaiah, a local tech realtor who will give you realty updates on Bay Area, and also help you sell or buy a home here. Subscribe to my channel to stay updated on the latest realty happenings in Santa Clara, San Benito, Monterey, Santa Cruz, and San Mateo, among others. You can also hear me take questions from listeners on Bay Area real estate every Sunday between 1230pm and 1pm on Bolly 92.3, Bay Area's Bollywood station. If you miss it, you can listen to a replay of it on podcasting channels like Apple Podcasts, Amazon Music, TuneIn, Stitcher, and Spotify, among others. Or visit: https://bayarearealtor.buzzsprout.com. And don't forget to check out NagarajHomes.com and sign up to my monthly newsletter, or use the free mortgage calculator on the site to help you with your purchases.
CONTACT ME
* Want to schedule a time for a free consultation? Or want immediate help in buying or selling homes, call me today at (408) 805-4653. You can also visit me at: https://www.nagarajhomes.com/ CalDRE: 02110146 NMLS: 1938293
—— MY BACKGROUND In April 2014, I came to the US as a software consultant. I started a performing arts and yoga studio in Santa Clara for my wife: Esha Yoga and Nrithyamanasa Performing Arts Center. As I loved networking with people, I realised that I should get into real estate as well. Therefore, I went to the right institutions for the skills required for the job. Soon enough, I became a qualified realtor and mortgage professional taking full advantage of marketing tools to ensure that your property is broadly promoted on a variety of channels, including major real estate websites. For buyers, I effectively analyze the local market and target trends to help you find the perfect home at the right price in the bay area. I sold more than 10 homes last year. I also work as a techie - that’s my full-time job. And yet, I try to find time to do other things in life to break the monotony, build a brand, and elevate my standard of life. Nothing happens with just a wish. You have to keep trying to succeed, and I am the best example of that.
DISCLAIMER: Videos are meant for informational, educational, and entertainment purposes only, and should not be construed as financial advice.
