Steel Markets
November 19, 2018
Single-Family Housing Starts Soften in October
Written by Sandy Williams
Housing starts rebounded in October due to multi-family construction, while single-family starts continued to decline. Overall housing starts were 1.5 percent higher from September to October for a seasonally adjusted annual rate of 1,228,000, according to Commerce data. Multi-family starts were up 6.2 percent, but single-family starts declined 1.8 percent.
Starts climbed 32.9 percent in the Midwest, but plunged 34.1 percent in the Northeast. The South recorded a modest gain of 4.7 percent from multi-family starts, while the West dropped 4.6 percent.
