Steel Markets
November 19, 2019
Housing Starts and Permits Jump in October
Written by Sandy Williams
Housing starts grew 3.8 percent from September to October to a seasonally adjusted annual rate of 1,314,000 and rose 8.5 percent from October 2018, according to the latest report from the Commerce Department and U.S. Housing and Urban Development. Single-family housing starts were up 2 percent from September and housing starts in buildings of five units or more grew 6.8 percent.
“Thanks to lower mortgage interest rates, the seasonally adjusted annual pace of single-family permits has been rising since April, the rate of single-family starts has been increasing since May, and the 3-month moving average for single-family construction is at a post-recession high,” said National Association of Home Builders Chief Economist Robert Dietz.
