Steel Markets
Housing Starts Show Steady Improvement
Written by Sandy Williams
December 27, 2019
Housing starts increased 3.2 percent in November to a seasonally adjusted annual rate of 1,365,000. Starts were 1.36 percent above the November 2018 rate. Commencement of construction for single-family homes increased 2.4 percent from October, while starts for buildings of five units or more increased 2.3 percent.
New construction was strongest in the South with single-family starts up 10.3 percent, followed by an increase of 1.4 percent in the West. Starts were down 3.7 percent in the Northeast and 15.5 percent in the Midwest.
“Since the rebound in housing took hold earlier this year, single-family starts have posted a steady improvement in the pace of construction,” said NAHB Chief Economist Robert Dietz. “Under the current estimates, the 2019 year-to-date total for single-family construction is just 0.4 percent lower than the 2018 sum and is on pace to come in relatively flat for the year.”
Permit authorizations in November increased 1.4 percent from October to a SAAR of 1,482,000. Single-family authorizations edged up 0.8 percent, while multi-family units gained 4.4 percent. Permits in the Northeast and Midwest leapt 18.1 percent and 15.1 percent, respectively. Authorizations grew 1.3 percent in the West and declined 4.7 percent in the South from the previous month.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Steel exports rebound in January
US steel exports recovered to a five-month high in January after having fallen to a two-year low in December. This growth follows four consecutive months of declining exports.
Construction spending drops marginally in January
Construction spending edged down slightly in January, slipping for the first time in four months. The US Census Bureau estimated spending at a seasonally adjusted annual rate of $2,196 billion in January, down 0.2% from December’s downward revised rate. The January figure is 3.3% higher than a year ago. January’s result, despite the slight erosion, […]
HVAC equipment shipments slow in December but strong annually
Shipments of heating and cooling equipment in the US fell to an 11-month low in December, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).