Steel Markets
July 18, 2019
Single-Family Starts Outpace Multi-Family in June
Written by Sandy Williams
Housing starts declined slightly in June as single-family starts failed to offset a decline in multi-family construction. Starts in June dropped just under 1 percent from the revised May rate to a seasonally adjusted annual rate of 1,253,000. Single-family housing starts rose 3.5 percent from May to a SAAR of 847,000, while construction of apartment style homes of five units or more fell 9.4 percent. Compared to the June 2018 rate, housing starts grew 6.2 percent, according to the latest data from the U.S. Census Bureau and Department of Housing.
Starts were strongest in the Northeast and Midwest, jumping 31.3 percent and 27.1 percent from May, respectively. Starts fell in the South by 9.2 percent and in the West by 4.9 percent.
