This morning’s housing starts report showed an unexpected fall to the lowest level in almost a year. Quicken Loans Chief Economist Bob Walters offers the following comments on the report:
“Conflicting with industry forecasts, housing starts fell nearly 10 percent in June from the previous month. Despite an increase in the builder sentiment index yesterday, new construction is leveling off. Rising rates have dampened some demand, although the market will grow at a healthy pace in the coming months.”
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