Private Spend

Private Spend
Home Forecasts
Housing Statistics
Special Studies
Local HBA Data
NAHB’s Economists
About NAHB
Home Forecasts Housing Statistics Special Studies Local HBA Data NAHB’s Economists About NAHB
Archives Archives

Select Month
September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
June 2010
May 2010
April 2010
March 2010

© 2022 National Association of Home Builders

Email (Required)

Name (Required)

Website

NAHB analysis of the Census Construction Spending data shows that private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $938.2 billion in May. It was 0.2% up over the upwardly revised April estimates of $935.9 billion. On a year-over-year basis, total private construction spending was 19% higher.
These monthly gains are largely attributed to the growth of improvement spending ($354.9 billion SAAR), which was 34.2% higher than a year ago. Spending on single-family and multifamily construction remained virtually unchanged, as housing starts declined further and builder confidence weakened in May with home building facing higher interest rates and supply-side headwinds. Single-family construction spending was at a $483.1 billion annual pace in May 2022, 15.1% higher over May 2021. Multifamily construction spending stood at $483.1 billion, 3.6% lower than a year ago.
The NAHB construction spending index, which is shown in the graph below (the base is January 2000), illustrates how construction spending on single-family, multifamily have slowed down the pace since early 2022 under the pressure of supply-chain issues and elevated interest rates. Before the COVID-19 hit the U.S. economy, single-family construction and home improvement experienced solid growth from the second half of 2019 to February 2020, and the quick rebound since July 2020. New multifamily construction spending has picked up the pace after a slowdown in the second half of 2019.
The Census Bureau also published significant revisions of private residential spending data, including single-family, multifamily, and home improvement spending categories. The estimates for single-family and total private residential spending were revised upward since 2015. The chart below shows that revised residential improvement spending are substantially higher throughout 2021 and diverged noticeably in early 2022. The earlier release data showed a small dip in the first quarter of 2022. On the contrary, the revised estimates show significant increase in remodeling spending in early 2022.
Spending on private nonresidential construction increased 3.7% in May on an annual basis to a seasonally adjusted annual rate of $497.8 billion. The annual nonresidential spending increase was mainly due to more spending on the class of power ($19.4 billion), followed by the office ($9.7 billion), and healthcare category ($2.7 billion).
Your email address will not be published. Required fields are marked *
Notify me of follow-up comments by email.
This site uses Akismet to reduce spam. Learn how your comment data is processed .
September 1: BIA of Central South Carolina
September 8: Greater Iowa City Area Home Builders Association
September 9: Charlottesville Area Association of Realtors
September 14: American Coatings Association
September 15: Northeast Builders and Remodelers Association of Massachusetts
September 20: NAHB Building Systems Council
September 20: National Association of Landscape Professionals
September 20: Home improvement Research Institute
September 22: Home Builders Association of Georgia
To schedule a presentation for your group, please contact econ@nahb.org .

Home Forecasts
Housing Statistics
Special Studies
Local HBA Data
NAHB’s Economists
About NAHB
Home Forecasts Housing Statistics Special Studies Local HBA Data NAHB’s Economists About NAHB
Archives Archives

Select Month
September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
December 2020
November 2020
October 2020
September 2020
August 2020
July 2020
June 2020
May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
June 2010
May 2010
April 2010
March 2010

© 2022 National Association of Home Builders

Email (Required)

Name (Required)

Website

Private residential construction spending declined further in July, as rising mortgage rates and elevated construction costs put a damper on the market . It fell 1.5% in July, down for the second straight month, according to NAHB’s analysis of the Census Construction Spending data. Private residential construction spending was 14.1% higher year-over-year.
The monthly declines are largely attributed to lower spending on single-family and multifamily. Spending on single-family construction dropped 4% in July, as single-family starts fell to the lowest reading since June 2020 and builder confidence plunged in July. Multifamily construction spending edged down by 0.6% in July, after an increase of 0.6% in June. Private residential improvements rose by 1.5% in July and was 38.3% higher over a year ago, as summer is the best time for remodeling. Keep in mind that construction spending reports the value of property put-in-place, so it’s the measure of property at the end of the construction pipeline.
The NAHB construction spending index, which is shown in the graph below (the base is January 2000), illustrates how construction spending on single-family and multifamily has slowed since early 2022 under the pressure of supply-chain issues and elevated interest rates. Before the COVID-19 hit the U.S. economy, single-family construction and home improvement experienced solid growth from the second half of 2019 to February 2020, with a quick rebound since July 2020.
Spending on private nonresidential construction inched up by 0.4% in July to a seasonally adjusted annual rate of $503.9 billion. The monthly nonresidential spending increase was mainly due to more spending on the class of commercial property ($0.7 billion), followed by the manufacturing category ($0.6 billion), and the amusement and recreation category ($0.2 billion).
Your email address will not be published. Required fields are marked *
Notify me of follow-up comments by email.
This site uses Akismet to reduce spam. Learn how your comment data is processed .
September 1: BIA of Central South Carolina
September 8: Greater Iowa City Area Home Builders Association
September 9: Charlottesville Area Association of Realtors
September 14: American Coatings Association
September 15: Northeast Builders and Remodelers Association of Massachusetts
September 20: NAHB Building Systems Council
September 20: National Association of Landscape Professionals
September 20: Home improvement Research Institute
September 22: Home Builders Association of Georgia
To schedule a presentation for your group, please contact econ@nahb.org .

In Person Interact 2022 09/15/2022 225 Liberty Street, New York, New York 225 Liberty Street
In Person 451Nexus 10/03/2022 ARIA Resort and Casino, Las Vegas, Nevada
© 2022 S&P Global Terms of Use Cookie Notice Privacy Policy Disclosures Do Not Sell My Personal Information Cookie Settings
Cookie Settings Accept All Cookies
Private equity firms spend big on take-private deals
Infographic: Key questions when assessing an Alternative Investment Funds (AIFs) creditworthiness
Perspectives from China: Chinese M&A in 2022
Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices
Sky-high markets and avid competition for deals are costing private equity firms more to take public companies private in 2021 than at any time during the past five years, S&P Global Market Intelligence data shows.
Between the start of the year and Nov. 22, PE firms announced or completed 60 take-private deals totaling more than $223.4 billion in value, for an average transaction size of about $3.85 billion. The industry's average take-private deal was about $1.20 billion in 2020 and approximately $2.11 billion in 2019, according to Market Intelligence data.
Cheap debt and heaps of dry powder have stoked competition for acquisitions — not just among private equity firms, but also between industry players and well-resourced outsiders, including strategic buyers and special purpose acquisitions companies, said Glenn Mincey, global and U.S. head of private equity for KPMG.
"It's everybody chasing the same deals," Mincey said.
The role of competition in driving up the price of take-private deals was highlighted by the bidding for U.K. retailer Wm Morrison Supermarkets PLC, which was decided in an Oct. 2 auction that pitted New York-based Clayton Dubilier & Rice LLC against Fortress Investment Group (UK) Ltd., headquartered in London. The auction was used to resolve a four-month bidding war between the two PE firms that drove the value of the final offer roughly 76% higher than the initial bid for the supermarket chain. When debt and liabilities are factored into CD&R's winning bid, it comes to a total transaction value of $14.07 billion.
Reflecting the take-private deal euphoria is this month's monster buyout proposal from KKR & Co. Inc. for Rome-based telecommunications provider Telecom Italia SpA, estimated at $52.20 billion.
With strong corporate earnings pushing U.S. and European public markets to record highs this year, acquisition prices are rising, particularly in the technology sector, the arena for several of the year's largest take-private deals.
Between 2010 and 2019, the median annual valuation for publicly listed tech sector companies globally ranged from a price-to-revenue multiple of 1.2 to 2.9, according to 451 Research data, before hitting 3.7 in 2020 and jumping to 5.7 for the 2021 year-to-date period.
The sector's largest take-private deal so far this year, announced Nov. 8, is the $20.25 billion planned buyout of cybersecurity company McAfee Corp. by an investor group led by Advent International Corp. and Permira Advisers LLC.
Technology and software-focused Thoma Bravo LP had a busy year racking up several large take-private deals. On Aug. 31, the Chicago-based private equity firm closed a $12.37 billion deal to acquire and take private Sunnyvale, Calif.-based Proofpoint Inc., a cybersecurity and compliance company.
The firm executed two more large take-private deals that closed in July: the $7.07 billion acquisition of Medallia Inc. and the $6.72 billion acquisition of El Segundo, Calif.-based Stamps.com Inc.
Taking companies private at relatively high valuations sets the bar higher for private equity, requiring firms to be even more diligent in executing their value-creation strategies, Mincey said. But higher valuations also come with an upside.
"This is going to be really counterintuitive, but the higher valuations actually make it easier for private equity to do its job," Mincey said. "If you think about their business model, they borrow against the company, so the higher valuation allows them to borrow more and thereby allows them to execute more quickly on what they need to do to polish the company."
Leveraging technology to improve a service or make a company's operations more efficient is a tried-and-true strategy to improve value, regardless of what's going on in the wider market, he said. And firms are increasingly seizing opportunities to create value by improving the environmental, social and governance profiles of portfolio companies.
"Before, private equity would look at a company, and if you had a bad ESG story, that's a red flag and maybe you don't want to invest in that company. Now, it's seen as, 'Hey, we can come in [and] change the ESG story, really crystallize it, and then that adds value to a company'," Mincey said.
A hike in interest rates, anticipated to hit by mid-2022 or 2023, could put a damper on take-private activity.
"That's one factor going in the opposite direction, but I certainly think the trend is going to continue over the next year," he said.
S&P Global uses cookies to improve user experience and site performance, offer advertising tailored to your interests and enable social media sharing. Where required by applicable law, we will obtain your consent before we place any cookies on your device that are not strictly necessary for the functioning of our websites. By clicking "Accept All Cookies", you agree to our use of cookies. Learn about our cookies and how to modify your preferences in our Cookie Notice

Try our corporate solution for free!
Vayola Jocelyn Client Support Specialist Mon - Fri, 9am - 6pm (EST)
Vayola Jocelyn Client Support Specialist Mon - Fri, 9am - 6pm (EST)
Vayola Jocelyn Client Support Specialist Mon - Fri, 9am - 6pm (EST)

Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022

Quarterly smartphone market share worldwide by vendor 2009-2022

Number of apps available in leading app stores Q2 2022

Information on when we delete personal data, the countries where we save data (e.g., US, EU, Singapore), and the companies we collaborate with can be found in our privacy statement .

Published by
Statista Research Department ,

Aug 17, 2022

table

column chart

Showing entries 1 to 13 (45 entries in total)

0 1,000 2,000 3,000 4,000
Vr Lingerie
Cabela Outdoor Adventure
Overwatch Rape

Private Spend

Report Page