U.S. private residential construction spending fell 0.3% in June to a seasonally adjusted annual rate (SAAR) of $877.1 billion, down 4.7% from a year earlier, according to the U.S. Census Bureau. Remodeling spending edged up 0.1% on the month but was 7.2% lower than a year earlier, while multifamily construction outlays slipped 0.7% from May and 1.5% year over year. The data point to fading momentum in residential investment, adding pressure on related traditional assets.