Steel Markets
February 18, 2016
Housing Data Falters Slightly In January Suggesting Slower Momentum
Written by Sandy Williams
Residential construction is beginning the new year with slower momentum. A blast of winter weather in the Northeast slowed construction starts in January after a warmer than usual December.
The Commerce Department reports U.S. housing starts fell 3.8 percent from December to a seasonally adjusted annual rate of 1.099 million in January, the lowest rate since October. On a year over year basis total starts were up 1.8 percent. Single family starts fell 3.9 percent to 731,000 and multi-family starts dropped 2.5 percent to 354,000.
