U.S. construction spending hits $486 billion in March 2025, up 3% year to date

Total U.S. construction spending reached $486 billion in Q1 2025, up 3% from $472 billion in Q1 2024.

March’s annualized rate was $2.20 trillion, slightly down 0.5% from February but up 3% from a year ago.

Private construction spending grew 2% year-over-year to $384 billion, with residential up 3% to $205 billion.

Single-family home construction dipped 0.2% to $96 billion, and multifamily dropped 14% to $28 billion.

Nonresidential private projects rose 2% to $179 billion, led by manufacturing ($56B, +4%) and transportation ($5B, +10%).

Public construction climbed 6% to $102 billion, with nonresidential making up $99 billion of that.

Educational projects led public spending at $23 billion (+8%), while highways saw a 2% decline.

Religious (+16%), amusement/recreation (+21%), offices (+3%), and commercial public buildings (+44%) also recorded strong growth.

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