NAHB: Housing Starts Surge in November

Housing starts accelerated in November due to strong demand for new construction of single-family and multifamily housing, according to the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development.

construction3 Overall housing starts increased 11.8% to a seasonally adjusted annual rate of 1.68 million units. The November reading – indicating the number of housing units builders would begin if development kept this pace for the next 12 months – was driven by an 11.3% growth in single-family starts to a 1.17 million seasonally adjusted annual rate. The multifamily sector, which includes apartment buildings and condos, increased 12.9% to an annualized 506,000 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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