Private Residential Construction Spending Still on the Rise

Decreasing mortgage rates along with solid growth of spending on single-family construction and remodeling have kept the private residential construction up for the sixth consecutive month. According to the National Association of Home Builders, the Census Constructions Spending data reveal a 1.4% increase to a seasonally adjusted annual rate of $540.7 billion for total private residential construction spending this last December.

The National Association of Home Builders provides a monthly estimate of the total dollar value of construction work done called The Value of Construction Put in Place Survey (VIP). On the first day of each month data collection and estimation activities begin for the month. The data that is recorded includes the cost of labor and materials, cost of architectural and engineering work, overhead costs,

interest and taxes paid during construction, and contractor’s profits. The survey is based on construction work that is done each month on improvements to existing structures or new structures for private and public sectors.

The growth in spending on single-family construction and remodeling has been great for the housing industry. Single-family spending was up 2.7% in December 2019 at an annual pace of $289.3 billion. This was 5.2% higher compared to the figures reported in December 2018. The figures included in the private residential improvements were based on spending on remodeling, major replacements, and additions to owner-occupied housing units. In December the figures rose to a seasonally adjusted annual rate of $193.7 billion.

In the second half of 2019, as seen in the graph, there has been solid growth in single-family construction and home improvement. Also shown is new multifamily construction spending which slowed down since last summer but did see solid growth from 2010 to 2016 and a growth spurt from late 2018 to early 2019.

Click Here For the Source of the Information.

Custom Home Builders in St. Tammany Parish

What distinguishes Ron Lee Homes from other custom home builders in St. Tammany Parish is that Ron Lee is personally involved in almost all of the custom home projects that are completed in the cities of Mandeville, Madisonville, Covington, and Abita Springs. New custom homes require an almost daily review and critique, so Ron Lee’s hands-on approach to building new homes on the Northshore is the key to his success in building custom homes. With amazingly unique interior and exterior amenities, energy efficient green building techniques, and top-of-the-line building materials, the new, custom homes built by Ron Lee Homes stand above the competition in design as well as durability.

One of the main aspects of a home built by Ron Lee is the foundation. Ron Lee takes great care with each and every foundation of his new homes because of the shifting and sometimes unreliable soil in Southeast Louisiana. These foundations have a step-by-step meticulous process that requires attention to detail and experienced sub-contractors that have worked with Ron Lee Homes for many years. Relying on sub-contractors is a huge part of being a successful St. Tammany Parish builder, and with 24 years building in St. Tammany Parish, Ron Lee has met and vetted many different types of subs. With Ron Lee personally overseeing the laying of the foundation, the framing, roofing, siding, and interior construction of your new home, you can count on the construction work to be quality as well as critiqued and corrected as the new home is put together.

Another benefit of having such a personally vested builder is that you will get to have one-on-one contact with your builder. Ron Lee answers his phone, e-mails, and requests as timely as he can. Also, he is backed up by a team of people at his home building company who have years of experience in the real estate industry as well as the St. Tammany Parish area. From the many testimonials from our satisfied homeowners, most of our new home buyers have been pleasantly surprised by the level of professionalism, communication, and follow up provided by Ron Lee Homes.

If you are not sure where to begin your new home building experience, Contact Ron Lee Homes today for a custom home consultation to learn more about the new home design and building process. Call 985-626-7619 or E-mail Info@RonLeeHomes.com.