Market Update: Housing starts decrease 17% in February

  • March 17, 2015

This morning’s Census Bureau report showed that housing starts in February fell 17% to an annual rate of 897,000 million units (SAAR). Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“There’s no question that the harsh winter we had in the Midwest and Northeast was the culprit in February’s slowdown in new home construction. I wouldn’t look too much into February’s drop, as the overall housing picture shows homebuilder confidence growing and permits for new construction rising. Look for demand to increase in the coming months.”

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

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