Construction Spending in the United States decreased 0.30 percent in May of 2025 over the previous month. This dataset provides the latest reported value for - United States Construction Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Total Construction Spending: Total Construction in the United States (TTLCONS) from Jan 1993 to May 2025 about headline figure, expenditures, construction, and USA.

The new constructions put in place in the United States in 2023 were valued at almost two trillion U.S. dollars. In the coming years, the value of construction is expected to keep growing, reaching roughly *** trillion U.S. dollars in 2028. Construction spending has been growing steadily over the last couple of years. Up to 2021, residential building construction spending also increased.

Graph and download economic data for Total Construction Spending: Manufacturing in the United States (TLMFGCONS) from Jan 2002 to May 2025 about expenditures, construction, manufacturing, and USA.

U.S. spending on private construction continued to grow in 2024 and was over three times larger than construction spending in the public sector. Texas and California were at the top of the ranking when observing construction spending within the 50 U.S. states. According to a forecast, the value of U.S. construction put in place is expected to keep rising until 2025. Road construction spending: predicted to grow The value of road construction until 2026 was expected to reach the highest recorded values since 2005. However, data suggest that the United States still needs to catch up. When comparing infrastructure spending as share of GDP across various countries worldwide, the average spending of the United States was much lower than that of many other countries. How much have U.S. construction costs changed? Construction costs for housing varied significantly per city, with single-family homes in Honolulu, San Francisco and New York among the most expensive. During the past years, building costs grew in most of the U.S. big cities at a fast pace. Whilst there are many reasons why this occurred – supply and demand, or local zoning rules making it difficult to build – there is one that became especially noticeable in the past years: the prices of many important building materials went up significantly.

The value of public residential construction spending in the United States has risen significantly from 2019 to 2024. In 2019, the public sector spent nearly **** billion U.S. dollars on residential construction projects, while that figure reached **** billion U.S. dollars in 2024. The overall value of new residential construction put in place in the U.S. is expected to increase over the coming years.

Graph and download economic data for Total Construction Spending: Office in the United States (TLOFCONS) from Jan 2002 to May 2025 about expenditures, construction, and USA.

In 2023, Texas had the highest construction spending by the state and local governments in the United States. Meanwhile, those government levels spent ** billion U.S. dollars in California, which was a much higher amount than in New York, Florida, or any other state. It is important to consider, nevertheless, that these figures do not show the total construction output of the territory, but only public spending by those government levels.What elements determine construction value?Several factors play into the value of the construction put in place such as the costs in which each project incurs. Contractors facing shortages in construction materials or a rise in their cost are some of the situations that can cause an increase in the construction value. It is also necessary to factor in the cost of labor of construction workers in non-supervisory and in managerial positions, as well as that of specialized workers such as engineers and architects. Finally, taxes and fees, the contractor’s profit, and other costs are also considered.Which states have the highest construction costs?Some of the U.S. cities with the highest costs for construction materials, installation, and composite correspond to the states with more value of construction put in place. Similarly, the wages in the private construction sector of those U.S. states, such as New York, California, and Texas, were also above the national average. Although Florida ranks low in the aforementioned aspects, it has been one of the states with the most residential building permits issued during the last couple of years.

The U.S. Census Bureau provides monthly estimates of the total dollar value of construction work done in the United States as part of the Value of Construction Put in Place Survey (VIP). Includes construction related to pavement, lighting, retaining walls, tunnels, bridges, toll/weigh facilities, maintenance buildings, and rest facilities.

Based on planned construction development over the next few years, the value of non-residential construction put in place in 2028 in the United States is expected to reach roughly *** billion U.S. dollars. Non-residential construction can include segments like the construction of lodging, offices, commercial buildings, health care, and education. Generally, the U.S. construction industry is linked to the economic wellbeing of the country. Construction industry needs Within the non-residential building industry, commercial building construction in the U.S. decreased in 2024 after increasing considerably the prior two years. However, the construction industry faces challenges such as the rising construction costs. The modernization of a typically conservative industry will be important in the near future to support customer demands and to improve operation models. Integrating sustainable building processes and features in projects as well as establishing technological advancements like building information modeling (BIM) will be essential for the future of the construction industry. Non-residential vs. residential During the past years, new residential construction in the United States usually had a higher value than non-residential construction. Until 2019, the values of new residential and non-residential construction had remained fairly similar. However, the value of new residential construction started quite fast between 2020 and 2022. Nevertheless, the number of permits for private housing construction started decreasing since late 2022

Based on short-term projections, the U.S. non-residential construction market is expected to increase by approximately * percent in 2024. That year, growth is expected to be the highest in the data center construction segment, with a year-on-year change of **** percent. Meanwhile, the value of spending on warehouses was expected to decrease that year, but to recover in 2026. The value of private non-residential buildings put in place in the U.S. soared in 2023 and continued growing in 2024. That was similar to how public non-residential construction has evolved, which also had a noticeable growth in 2023 and 2024. Non-residential construction market There are various drivers that impact the non-residential construction market and can be highly dependent on the sector. Demand for leisure travel has a major influence on the value of hotel construction in the United States. For example, construction spending on the hotels fell sharply in the first years of the COVID-19 pandemic, when travel was constrained. On the other hand, the growth in the office building market is guided to a large extent by corporate relocations, the lack of vacant spaces in major metropolitans, and trends in the hybrid working policies of companies. Industrial real estate receives most investment The value of investment in commercial real estate in the U.S. fell significantly in 2022 and 2023, but it started recovering slightly in 2024. The value of investment in office real estate fell the most in the past years, but it grew at a faster pace than other segments in 2024.

Graph and download economic data for Total Construction Spending: Residential in the United States (TLRESCON) from Jan 2002 to May 2025 about residential, expenditures, construction, and USA.

In 2024, the public non-residential construction spending put in place in the United States increased, reaching roughly *** billion U.S. dollars. In comparison, a decade earlier, in 2012, this type of construction was valued at just *** billion U.S. dollars. The category non-residential refers to the construction of infrastructure and buildings for hospitality, education, offices, healthcare, public safety and other usages.

Definitions related to the construction data can be found at https://www.census.gov/construction/c30/definitions.html Methodology details can be found at https://www.census.gov/construction/c30/methodology.html

Manufacturing was the type of non-residential construction segment with the highest spending figures in the United States in 2024. The commercial segment, which includes, among others, warehouses and buildings for the automotive industry, such as parking, was valued at ***** billion U.S. dollars that year. Additionally, the value of construction for commercial and educational buildings were also among the highest of the segments included here.

Total Construction Spending: Total Construction in the United States was 178940.00000 Mil. of $ in April of 2025, according to the United States Federal Reserve. Historically, Total Construction Spending: Total Construction in the United States reached a record high of 199948.00000 in August of 2024 and a record low of 30264.00000 in February of 1993. Trading Economics provides the current actual value, an historical data chart and related indicators for Total Construction Spending: Total Construction in the United States - last updated from the United States Federal Reserve on July of 2025.

The value of federal construction spending on highway and street projects in the United States increased to **** billion U.S. dollars in 2024. Meanwhile, the previous year, it had amounted to **** billion U.S. dollars. With the exception of 2010, in the years after the financial crisis of 2007, federal spending on highway and street construction stayed under *** billion U.S. dollars.

The U.S. Census Bureau provides monthly estimates of the total dollar value of construction work done in the United States as part of the Value of Construction Put in Place Survey (VIP). Includes construction related to passenger terminals, runways, pavement and lighting, hangars, air freight terminals, space facilities, air traffic towers, aircraft storage and maintenance buildings.

The value of power construction put in place in the United States increased significantly in 2024. That year, approximately *** billion U.S. dollars were spent on power construction projects in the U.S., which was ** billion U.S. dollars higher than in the previous year.

Graph and download economic data for Total Construction Spending: Nonresidential in the United States (TLNRESCONS) from Jan 2002 to May 2025 about nonresidential, expenditures, construction, and USA.