NAHB: Housing Starts Slip in October

Housing starts slipped 0.7% in October as single-family housing production lagged, hampered by supply-chain shortages and limited access to labor and lots. Overall housing starts decreased to 1.52 million units, seasonally adjusted, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development.

construction3 The October reading of 1.52 million includes single-family starts, which fell 3.9% to a 1.04 million seasonally adjusted annual rate, but remain up 16.7% year-to-date. The multifamily sector, which includes apartment buildings and condos, increased 7.1% to an annualized 481,000 pace.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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