Housing Starts Surprise, Recover in September

US housing starts increased in September despite high interest rates, according to the latest estimates from the US Census Bureau.

Total privately owned housing starts were at a seasonally adjusted annual rate of (SAAR) of 1.36 million in September, a 7% gain over the revised August estimate of 1.27 million, Census said.

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.