Based on the most recent numbers, residential spending reached an annual rate of $363.5 billion.

Through the end of July, the 2014 estimate for construction put in place is $535.4 billion, 7.9 percent higher than the year-to-date figure for the same period in 2013. Private construction outlays reached a seasonally adjusted annual rate of $701.7 billion, a 1.4 percent increase from June and a 10.9 percent increase from last July.

Private residential spending in July increased 8 percent over last July to $358.1 billion. Multifamily expenditures increased 41 percent from July 2013 to July 2014. Total public sector construction was at a seasonally adjusted annual rate of $279.6 billion. As of July 2014, public construction has totaled $148.2 billion, virtually unchanged from the same time last year.