While annual owner improvement and repair spending could reach $430 billion by the second half of 2022, several headwinds may still temper growth expectations this year.

Total construction spending increased in November compared to levels in October and a year earlier, as gains in private residential and nonresidential projects outweighed decreases in public outlays, according to a new analysis of federal construction spending data released by the Associated General Contractors of America.

Pending home sales slipped in November, receding slightly after a previous month of gains, according to the National Association of Realtors.

Construction employment increased in nearly two out of three U.S. metro areas between November 2020 and November 2021, according to an analysis by the Associated General Contractors of America of new government employment data.

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for November 2021.

Existing-home sales rose in November, denoting three consecutive months of increases, according to the National Association of Realtors. Three of the four major U.S. regions reported growth in monthly sales, while the fourth region held steady in November.

New home sales posted a solid gain last month, driven by strong buyer demand, low existing home inventory and buyers' anticipation of future higher mortgage rates.

Single-family and multifamily housing production accelerated in November, due to strong demand for new construction.

From February 2020—the month before the pandemic caused projects to be halted or canceled—to last month, construction employment decreased in 32 states and increased in only 18 states and D.C. 

Total construction starts fell 14% in November to a seasonally adjusted annual rate of $867.8 billion, according to Dodge Construction Network.