Steel Markets
September 16, 2020
Housing Starts Fall in August Despite Single-Family Gains
Written by Sandy Williams
Housing starts fell 5.1 percent to a seasonally adjusted annual rate of 1.42 million in August due to declines in multi-family construction. Single-family housing starts rose 4.1 percent from July’s annual rate, but multi-family starts plunged more than 20 percent, according to data from U.S. Housing and Urban Development and the Commerce Department.
Building permits slipped 0.9 percent from July to a SAAR of 1,470,000 driven by a decline in multi-family authorizations. Single-family permits jumped 6.0 percent from July.
