Steel Markets
May 16, 2018
Housing Starts Dip in April on Falling Multifamily Construction
Written by Sandy Williams
Housing starts slowed in April, falling 3.6 percent from revised March data to a seasonally adjusted annual rate of 1,287,000. Compared to a year ago, starts increased 10.5 percent, reports the National Association of Home Builders (NAHB).
Most of the April decline was a result of a 12.6 percent plunge in multifamily housing after making gains in March. Multifamily starts of five units or more were at a rate of 374,000. Single-family housing starts were relatively flat, gaining 0.1 percent from March for a rate of 894,000.
