Steel Markets
June 16, 2021
Housing Starts Improve in May, But Permits Decline
Written by Sandy Williams
Housing starts picked up the pace in May, jumping 3.6% from April to a seasonally adjusted annual rate of 1,572,000, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development. Single-family starts rose 4.2% and construction on homes of five units or more increased 4%.
“Single-family starts held firm in May as demand remains strong despite recent gains in new home costs,” said National Association of Home Builders Chairman Chuck Fowke. “However, single-family permits posted a decline as higher construction costs are deterring some residential construction activity. Policymakers need to help the industry’s supply chains in order to protect housing affordability.”
