The source of this data is the U.S. Census Bureau (Chart forecast).
The data above shows the total construction spending in the United States for the past 23 years, from 2000 to 2023. In 2000, the total construction spending was 724.9 billion dollars, and it has gradually increased over the years. In 2021, it was at its highest with 1,541.1 billion dollars, representing an increase of 4.1% from 2020 and a total increase of 112.2% from 2000. The greatest increase was seen between 2017 and 2018, with a 13.4% jump. On the other hand, the greatest decrease was seen between 2008 and 2009, with a 15.9% decrease. Generally speaking, the data indicates a steady increase in construction spending over the years, with an average annual growth rate of 3.9%. In 2023, the total construction spending is projected to reach 1,670.3 billion dollars.