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Census: 2012 was three-year high for construction spending

By - Last modified: February 4, 2013 at 11:20 AM

Construction spending in 2012 hit a three-year high, according to preliminary figures from the U.S. Census Bureau.

Total construction was valued at $850.2 billion, up from $778.2 billion in 2011.

Of that total, $283.4 billion was linked to residential, the highest since 2008, according to the Census.

Multifamily construction was valued at $21.3 billion, an increase from $14.8 billion in 2011.

By comparison, single-family housing construction came in at $129.2 billion, which was up from $108.2 billion in 2011.

The preliminary figures valued nonresidential construction at $566.8 billion last year, the highest since 2009.

Here is a breakdown of annual construction values since 2002:

 

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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