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Feature Construction spending

Lodging construction ran at $25.0 billion in September 2026, 4.2% below a year earlier, while recreation building held near a record

Lodging construction spending was $25.0 billion SAAR in September 2026, 4.2% below September 2025 and 2.7% above its May low.

25,012 $ millions, SAAR, September 2026 · 0.0% on the month · −4.2% on the year

Lodging construction has held near $25 billion since June 2026

Value of construction put in place, lodging, United States, millions of dollars, seasonally adjusted annual rate, monthly since January 2016

Lodging construction has held near $25 billion since June 2026Line chart with 129 points from January 2016 to September 2026, in $ millions, SAAR. Series: Lodging ($ millions SAAR). Values range from 16,697 to 34,632.15,00020,00025,00030,00035,000201620182020202220242026January 2016: 23,664February 2016: 24,485March 2016: 26,598April 2016: 26,512May 2016: 27,342June 2016: 27,786July 2016: 27,386August 2016: 27,477September 2016: 28,747October 2016: 27,526November 2016: 28,889December 2016: 28,203January 2017: 28,957February 2017: 28,163March 2017: 28,815April 2017: 27,781May 2017: 28,627June 2017: 28,879July 2017: 28,400August 2017: 29,058September 2017: 28,932October 2017: 28,462November 2017: 28,526December 2017: 29,494January 2018: 29,922February 2018: 30,460March 2018: 29,997April 2018: 31,421May 2018: 31,475June 2018: 31,049July 2018: 32,011August 2018: 32,700September 2018: 32,152October 2018: 32,364November 2018: 31,870December 2018: 32,152January 2019: 32,103February 2019: 32,197March 2019: 33,132April 2019: 33,652May 2019: 33,212June 2019: 34,632July 2019: 34,090August 2019: 33,672September 2019: 32,860October 2019: 33,785November 2019: 34,269December 2019: 33,939January 2020: 33,262February 2020: 33,128March 2020: 31,271April 2020: 29,715May 2020: 29,199June 2020: 28,590July 2020: 28,226August 2020: 27,105September 2020: 26,774October 2020: 26,162November 2020: 25,118December 2020: 23,726January 2021: 23,288February 2021: 22,467March 2021: 21,911April 2021: 20,863May 2021: 19,071June 2021: 18,539July 2021: 18,324August 2021: 17,336September 2021: 16,857October 2021: 16,697November 2021: 17,046December 2021: 17,032January 2022: 17,415February 2022: 17,909March 2022: 18,702April 2022: 19,166May 2022: 19,586June 2022: 19,671July 2022: 19,852August 2022: 20,717September 2022: 21,720October 2022: 22,176November 2022: 22,637December 2022: 23,026January 2023: 24,256February 2023: 24,760March 2023: 25,051April 2023: 25,895May 2023: 26,452June 2023: 27,004July 2023: 26,527August 2023: 27,103September 2023: 26,056October 2023: 26,106November 2023: 25,696December 2023: 25,515January 2024: 25,054February 2024: 25,299March 2024: 25,268April 2024: 25,182May 2024: 25,328June 2024: 25,737July 2024: 25,814August 2024: 26,167September 2024: 27,327October 2024: 27,244November 2024: 27,626December 2024: 28,568January 2025: 27,826February 2025: 27,187March 2025: 26,304April 2025: 27,463May 2025: 27,231June 2025: 26,968July 2025: 27,286August 2025: 27,629September 2025: 26,111October 2025: 26,622November 2025: 26,089December 2025: 25,734January 2026: 24,646February 2026: 24,575March 2026: 24,488April 2026: 24,477May 2026: 24,352June 2026: 24,925July 2026: 25,109August 2026: 25,022September 2026: 25,01225,012
Lodging construction has held near $25 billion since June 2026Line chart with 129 points from January 2016 to September 2026, in $ millions, SAAR. Series: Lodging ($ millions SAAR). Values range from 16,697 to 34,632.10K20K30K40K2016201920222025January 2016: 23,664February 2016: 24,485March 2016: 26,598April 2016: 26,512May 2016: 27,342June 2016: 27,786July 2016: 27,386August 2016: 27,477September 2016: 28,747October 2016: 27,526November 2016: 28,889December 2016: 28,203January 2017: 28,957February 2017: 28,163March 2017: 28,815April 2017: 27,781May 2017: 28,627June 2017: 28,879July 2017: 28,400August 2017: 29,058September 2017: 28,932October 2017: 28,462November 2017: 28,526December 2017: 29,494January 2018: 29,922February 2018: 30,460March 2018: 29,997April 2018: 31,421May 2018: 31,475June 2018: 31,049July 2018: 32,011August 2018: 32,700September 2018: 32,152October 2018: 32,364November 2018: 31,870December 2018: 32,152January 2019: 32,103February 2019: 32,197March 2019: 33,132April 2019: 33,652May 2019: 33,212June 2019: 34,632July 2019: 34,090August 2019: 33,672September 2019: 32,860October 2019: 33,785November 2019: 34,269December 2019: 33,939January 2020: 33,262February 2020: 33,128March 2020: 31,271April 2020: 29,715May 2020: 29,199June 2020: 28,590July 2020: 28,226August 2020: 27,105September 2020: 26,774October 2020: 26,162November 2020: 25,118December 2020: 23,726January 2021: 23,288February 2021: 22,467March 2021: 21,911April 2021: 20,863May 2021: 19,071June 2021: 18,539July 2021: 18,324August 2021: 17,336September 2021: 16,857October 2021: 16,697November 2021: 17,046December 2021: 17,032January 2022: 17,415February 2022: 17,909March 2022: 18,702April 2022: 19,166May 2022: 19,586June 2022: 19,671July 2022: 19,852August 2022: 20,717September 2022: 21,720October 2022: 22,176November 2022: 22,637December 2022: 23,026January 2023: 24,256February 2023: 24,760March 2023: 25,051April 2023: 25,895May 2023: 26,452June 2023: 27,004July 2023: 26,527August 2023: 27,103September 2023: 26,056October 2023: 26,106November 2023: 25,696December 2023: 25,515January 2024: 25,054February 2024: 25,299March 2024: 25,268April 2024: 25,182May 2024: 25,328June 2024: 25,737July 2024: 25,814August 2024: 26,167September 2024: 27,327October 2024: 27,244November 2024: 27,626December 2024: 28,568January 2025: 27,826February 2025: 27,187March 2025: 26,304April 2025: 27,463May 2025: 27,231June 2025: 26,968July 2025: 27,286August 2025: 27,629September 2025: 26,111October 2025: 26,622November 2025: 26,089December 2025: 25,734January 2026: 24,646February 2026: 24,575March 2026: 24,488April 2026: 24,477May 2026: 24,352June 2026: 24,925July 2026: 25,109August 2026: 25,022September 2026: 25,01225K
September 2026 is preliminary. Figures are not adjusted for price changes. Source: fred.stlouisfed.org
DateTrendCategoryTitleSummary
DataLodging construction ran at $25.0 billion in September 2026, 4.2% below a year earlier, while recreation building held near a record FeatureLodging construction spending was $25.0 billion SAAR in September 2026, 4.2% below September 2025 and 2.7% above its May low.