October US housing starts inch higher but remain down on-year

US housing starts crept higher for a second consecutive month in October. Starts were lower, however, than the same month last year, according to the most recent data from the US Census Bureau.

Total privately owned housing starts were at a seasonally adjusted annual rate of (SAAR) of 1.372 million in September, a 1.2% rise over the revised September estimate of 1.346 million, Census said. Compared to October 2022, starts were down 4.2%.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.