Steel Markets
April 16, 2018
Multi-family Construction Buoys Housing Starts
Written by Sandy Williams
Housing starts increased more than expected in March due to a rebound in multi-family construction. Housing starts grew 1.9 percent from February to March to a seasonally adjusted annual rate of 1,319,000. Year-over-year, housing starts leapt 10.9 percent, reports the National Association of Home Builders.
Single-family housing starts were weak in March at a rate of 867,000, 3.7 percent below February’s revised rate of 900,000. The March rate for units in buildings with five units or more was 439,000, a 16.1 percent jump from February.
