Steel Markets
June 17, 2020
NAHB: Housing Production on Upward Path
Written by Sandy Williams
Housing starts rose 4.3 percent in May to a seasonally adjusted annual rate of 974,000. Starts were 23.2 percent below the May 2019 rate of 1.27 million. Single-family starts were flat, increasing just 0.1 percent last month. Construction of housing with five units or more, however, jumped 16.9 percent.
Regionally and on a year-over-year basis, housing starts soared 68.8 percent in the West and jumped 12.8 percent in the Northeast. Declines of 16 percent and 1.5 percent were seen in the South and Midwest, respectively.
