Market Update: Housing starts tumble 18.7 percent

  • December 16, 2016

Housing starts fell 18.7 percent in November to a seasonally adjusted rate of 1.09 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“This month’s report is a prime example of the volatile nature of this data. Looking at the big picture we have seen improvement, albeit choppy. While demand continues to rise, a recent surge in home builder sentiment coupled with rise in single family permits are an encouraging step forward to help ease the shortage for housing.”

If you would like to speak to Bill about this or any other topic, please contact us.

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