The total value of investment in building construction increased 9.7% to $24.5 billion in November. This increase partly stems from October's rise of 14.9% in the total value of building permits, reflecting a lag in converting permit issuance into on-site construction investment. The residential sector rose 13.3% in November, and the non-residential sector was up 1.4%. Year over year, investment in building construction grew 16.6% in November.
On a constant dollar basis (2023=100), the total value of investment in building construction rose 9.6% from the previous month to $22.7 billion in November and was up 13.0% year over year.
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