Nationwide, construction spending in May was flat as home building continues to fall. So reports the Associated Press.
Buyers contested with rising prices, though, and a low market supply. Housing starts fell for three straight months. Private residential construction dropped 0.6% in May, the biggest dip since July of 2014. Non-residential construction dropped 0.7% and has declined five consecutive months.
State and federal government spending rose, though, with federal spending up 6.4%.