Steel Markets
September 18, 2014
Housing Starts Dive After July High
Written by Sandy Williams
Housing starts and building permit authorizations fell in August according to data from the U.S. Department of Commerce.
Housing starts were at a seasonally adjusted annual rate of 956,000, 14.4 percent below the July revised estimate of 1,117,000 but 8.0 percent above the August 2013 estimate. Single family housing starts fell 2.4 percent to a rate of 643,000 and starts for multifamily units of five or more fell 31.5 percent to a rate of 304,000. Housing starts on a three month moving average continue to show an upward trend indicating growth in the residential construction industry. Regionally, starts fell in all four U.S. regions with the greatest decrease in the West at 24.7 percent.
