Steel Markets
New Home Sales Tumble in March
Written by Sandy Williams
April 23, 2015
New home sales fell 11.4 percent in March for the biggest decline since July 2013. The seasonally adjusted annual rate was 481,000 below the forecast of 515,000. Analysts, however, say the drop is not as worrisome as it looks, coming off a strong revised February sales pace of 543,000 from a previously reported 539,000. Home sales have been erratic on a monthly basis but still exceed 2014 levels.
Home prices fell slightly in March with the median home price of $277,400 down 1.7 percent from a year ago. The average sales price was $343,300.
The seasonally adjusted estimate of new houses for sale at the end of March was 213,000—a supply of 5.3 months at the current sales rate.
Regionally, sales dropped 33 percent in the Northeast, 15.8 percent in the South, and 3.4 percent in the West. The Midwest saw sales rise by 5.9 percent from the previous month.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
Worldsteel: Global steel demand flat, but modest rebound forecast for 2026
The World Steel Association (worldsteel) Short Range Outlook for global steel demand predicts that 2025’s steel demand will clock in at the same level as in 2024. In its October report, the Brussels-based association stated that this year’s steel demand will reach ~1,750 million metric tons (mt). The organization forecasts a 1.3% demand rebound in 2026, pushing […]
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
Great Lakes iron ore cargoes down in September as Cleveland tonnage slips
Iron ore shipments from US Great Lakes ports fell sharply in September, per the latest from the Lake Carriers’ Association (LCA) of Westlake, Ohio.
HVAC equipment shipments down through August
Although total HVAC shipments fell in August, YTD volumes remain relatively strong. Nearly 15 million units were produced in the first eight months of the year, the fourth-highest rate in our 19-year data history.