The need for steel products and services from the US housing market will still continue in the coming months after building permits rose in July.
If you’re looking to buy steel from Wasatch Steel or any other supplier, the increased need for the material will be noticeable in the single-family and apartment segments. The US Commerce Department said that housing starts rose to more than 1.1 million units during the month.
Strong demand for new homes caused permits to increase in July, despite a shortage of laborers and more expensive construction materials. Residential builders remain unfazed by these industry headwinds by still pursuing new development projects.
Housing starts also increased between January and July compared with the same period in 2017, up by 6.2% based on the government data. Steel prices may have been more expensive now due to the newly imposed tariffs, yet the material has some clear advantages when used for residential properties.
Steel-built houses can be aesthetically pleasing and sustainable, if not better than using concrete or timber for homes. For instance, steel roofing helps in cooling homes during hotter months while steel-paneled walls contribute to insulation.
Unlike timber beams, the use of steel also allows architects to maximize usable space without needing more materials.
A steel foundation also requires fewer materials than concrete, which means a lesser environmental impact. Even if a house is demolished, its steel frames and other components can be recycled or repurposed for other projects. In fact, recycled steel accounts for around 30% of newly made steel.
An increase in housing starts simply means that home builders will be busier in the coming months. Those who need more construction materials should consider buying from suppliers with online stores, which make order placements more convenient and faster.