NAHB: Housing Starts Fell in May

Housing starts tumbled in May as the construction sector faces strong headwinds. Rising interest rates, ongoing building material supply chain troubles, and ballooning construction costs further delayed construction projects and raise home building costs.

Overall housing starts fell 14.4% to a seasonally adjusted annual rate of 1.55 million units in May from an upwardly revised reading the prior month, 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.

David Schollaert

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