Housing starts decline in December even as interest rates fall

US housing starts moved lower in December, even as single-family production topped the million mark for the second straight month, according to the most recent data from the US Census Bureau.

Total privately owned housing starts were at a seasonally adjusted annual rate (SAAR) of 1.46 million in December, 4.3% below the revised November estimate of 1.525 million, Census said on Jan. 18. This was, however, 7.6% above the December 2022 rate of 1.357 million starts.

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.