Market Update: Housing Starts Ramp Up in September

  • October 20, 2020

September’s New Residential Construction report showed a 8.5% increase in privately-owned single-family housing starts, to an annual rate of 1,108,000 units.

Bill Banfield, Rocket Mortgage Executive Vice President of Capital Markets, offers the following insight on the report:

“Mortgage interest rates near record lows continue to propel the housing industry, including construction. There has been a surge of demand for new homes as a result of the longstanding inventory constraints across the country. Today’s news is encouraging for those enduring bidding wars and other challenges in the current market.”

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

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