Steel Markets
October 17, 2019
September Housing Starts Slide on Multifamily Declines
Written by Sandy Williams
Housing starts fell 9.4 percent in September to a seasonally adjusted annual rate of 1,256,000, well below the August revised rate of 1,386,000 due mostly to a large decline in the multifamily sector. Single-family housing rose 0.3 percent from August, while units in buildings of five units or more plummeted 28.3 percent.
All four regions reported declines for total starts and for single-family starts except for the South, which saw single unit construction rise 7.1 percent.
