NAHB: October Housing Starts Fall on Rising Costs

Housing starts fell by 4.2% in October to a seasonally adjusted annual rate of 1.43 million units, according to a report from the US Department of Housing and Urban Development and the US Census Bureau.

The decline came as elevated mortgage rates, rising construction costs, and waning demand stemming from high home costs drag on single-family housing production, the National Association of Home Builders (NAHB) said.

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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