Steel Markets

New Home Sales Up by 7.9%
Written by Sandy Williams
September 26, 2013
New home sales rose by 7.9 percent in August to a seasonally adjusted rate of 421,000 from the revised July rate of 390,000 (from an earlier estimate of 394,000) according to the U.S Census Bureau and the Department of Housing and Urban Development. Sales were slightly below expectations of 425,000 for August, showing weakness compared to the first half of 2013.
The median sales price of new homes in August was $254,600 and the average sales price was $318,900. At the end of August the seasonally adjusted estimate of new houses for sale stood at 175,009—a five month supply at current sales rates. Housing prices are up more than 12 percent from pricing in August 2012.
A shortage of available lots and difficulty for builders to get credit was blamed for the decrease in new home sales. A positive sign for homebuilders and economic watchdogs is the time on market has been decreasing steadily since April 2013 from 4 months to 3 months in August.
Home sales were highest in the Southern and Midwest regions, rising by 19.6 percent and 15.3 percent, respectively. Northeast sales increased by 8.8 percent. New home sales fell in the West by 14.6 percent. Sales compared to August 2012 were up across the board except in the West which was down by 21.2 percent.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets

Still no cure for the summertime HR market blues
Seasonal steel slowdowns combined with ongoing anxieties about tariffs and mill strategies have dampened sentiment for several hot-rolled steel market participants this week. Buyers are jittery, market stands still The operator of a Midwest-based service center said that steel buyers are scared. “Everyone is afraid to buy steel right now. Unless you’re on a […]

SSAB Americas reports higher Q2 production and shipments
Despite improved operating results, SSAB Americas' second-quarter and H1’25 profits fell short of those of last year.

Global steel production slips in June
The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).
Market sentiment shows improvement: PMA Business Conditions Report
Metalforming manufacturers say they’re more confident that near-term economic conditions are improving

Galvanized steel prices and demand remain stagnant in July: HARDI
Galvanized steel prices ping-ponged in the $50/hundredweight range during the month of July, settling in at roughly the same position as in June.