Steel Markets
June 19, 2016
Housing Starts Slip in May
Written by Sandy Williams
Housing starts in May fell 0.3 percent from April’s revised estimate of 1,167,000 to a seasonally adjusted annual rate of 1,138,000, according to the Department of Commerce. The rate, however, was 9.5 percent above the May 2015 estimate. The month-to-month slip was due to construction of fewer multi-family housing units.
“Despite May’s relatively flat report, our builders are telling us that the market is improving and consumers are more ready and willing to make a home purchase,” said NAHB Chairman Ed Brady.
