Steel Markets
July 19, 2017
Housing Starts Rebound in June
Written by Sandy Williams
Housing starts in June jumped 8.3 percent to a seasonally adjusted annual rate of 1,215,000 and were 2.1 percent higher than in June 2016, said the Department of Commerce on Wednesday. The increase follows three months of decline and was driven by new construction in the Northeast and Midwest.
Starts soared 83.7 percent in the Northeast and 22 percent in the Midwest. Construction was tepid in the West with a gain of 1.6 percent from May. The South saw a loss of 3.8 percent. Single-family housing starts were 6.3 percent higher last month, while multi-unit housing jumped 15.4 percent.
