Private residential construction spending fell 5.5% in September, the Census Bureau reported. The seasonally adjusted annual rate was $848.8 billion, down from $898.0 billion in August.
Single-family construction was little changed from $403.5 billion in August, at $403.4 billion. It was 2.4% below a year earlier.
Spending on improvements tumbled 13% to $329.5 billion, from $378.7 billion in August. Improvements carried the decline in the residential total. Multifamily spending was little changed at $115.9 billion, from $115.8 billion.
Private nonresidential spending rose 1.1% to $790.6 billion and was 2.3% above a year earlier. Across the economy, total construction spending slipped 1.9% to $2.186 trillion.