Steel Markets
May 16, 2019
Housing Starts Improve, But Permits Lackluster
Written by Sandy Williams
Housing starts jumped 5.7 percent in April to a seasonally adjusted annual rate of 1,235,000, said the Department of Commerce in its latest report. Single-family starts led the way with a 6.2 percent increase, while homes of five units or more increased 2.3 percent. Starts soared by 84.6 percent in the Northeast and 42 percent in the Midwest, but declined by just over 5 percent in the South and West.
Permit authorizations increased less than 1 percent in April. Permits were at a SAAR of 1,296,000, a 0.6 percent increase from March, but were 5.0 percent below the April 2018 level. Single-family permit authorizations declined 4.2 percent from March to 782,000, while multi-family permits of five units or more jumped 7.1 percent. Permit authorizations fell in the Northeast and South, but increased 2.2 percent in the Midwest and 5.3 percent in the West.
