March 3, 2008

The total value of residential construction investment in Canada for 2007 reached $88.7 billion, an increase of 8.5% compared with 2006. All components of residential construction (new housing, renovation and acquisition costs) and all provinces and territories saw gains.

In constant dollars, the increase in the overall residential construction investments in 2007 was 2.3%.

Among provinces, the biggest increases (in dollars) occurred in Alberta (+18.9% to $14.8 billion) and in Quebec (+8.0% to $19.1 billion). In percentage terms, Saskatchewan led the rest with an increase of 37.5%.

New housing investment represented the largest contribution in dollars, posting an increase of 8.5% ...

U.S. construction spending during January 2008 was estimated at a seasonally adjusted annual rate of $1,121.5 billion, 1.7 percent below the revised December estimate of $1,140.4 billion. The January figure is 3.3 percent below the January 2007 estimate of $1,160.2 billion.
 
Spending on private construction was at a seasonally adjusted annual rate of $827.4 billion, 2.2 percent below the revised December estimate of $845.7 billion. Residential construction was at a seasonally adjusted annual rate of $455.8 billion in January, 3.0 percent below the revised December estimate of $469.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $371.6 billion in January, 1.2 percent below the revised December estimate of $376.0 billion.
 
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