In brief: Construction value up 9% in 2012
Driven by growth in residential construction, total U.S. construction was valued at $850.2 billion last year, a 9.2 percent increase above 2011, according to the U.S. Census Bureau.
Residential building was valued at $283.4 billion in 2012, a 15.4 percent bump from 2011. Nonresidential construction came in at $566.8 billion last year, which was 6.4 percent above 2011.
The commercial construction sector was boosted by the lodging and power-related segments, according to the Census. Lodging construction was valued at $11.1 billion, which was up 24.7 percent, and power projects were valued at $92.4 billion, an increase of 24.9 percent.
In private residential, multifamily was valued at $21.3 billion, an increase of 44.4 percent from 2011.