Economics
Something Is Odd About the Latest U.S. Construction Data
Experts expect revisions to June's poor print.
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Robust demand for mortgages. Real estate values rising at a solid clip. Construction employment in decent shape. A fresh cycle high for single-family home sales.
With all this working in the housing market's favor, it's hard to envision why residential outlays took a step back in the June construction spending report, notes Bespoke Investment Group.