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    Analysis

    September 22, 2022

    NAHB: Housing Starts Surge in August, Single-Family Still a Drag

    Written by David Schollaert

    Housing starts saw a double-digit gain in August driven by a surge in multifamily production. Despite the overall gain, high mortgage rates and building production bottlenecks continue to act as a drag on the single-family housing market.

    Overall housing starts increased 12.2% to a seasonally adjusted annual rate of 1.58 million units in August from a downwardly revised July reading, according to the latest data from the US Census Bureau and the Department of Housing and Urban Development.

    David Schollaert

    David Schollaert is deputy editor-in-chief 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. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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