Steel Markets
October 20, 2020
Housing Demand Continues to Accelerate
Written by Sandy Williams
Housing starts continued to grow in September supported by strong interest in single-family home construction. Housing starts climbed 1.9 percent from August and 11.1 percent from a year ago to a seasonally adjusted annual rate of 1,415,000, reported the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Single-family starts leapt 8.5 percent year over year while multi-unit dwellings of five units or more plunged 14.7 percent.
“The pace of single-family starts in September was the highest production rate since the summer of 2007,” said Robert Dietz, chief economist at the National Association of Home Builders.
