Market Update: Housing starts up 5.9%

July’s housing starts report showed a 5.9% increase in new home construction. Quicken Loans Chief Economist Bob Walters offers the following comments on the report:

“The housing market, which has been in need of a boost in inventory, is seeing more positive data in both housing starts and home permits. The increase of new homes being built will reduce the strain on homebuyers with few options and who are battling against not only other families, but cash investors as well.”

if you would like to talk to Bob in greater detail, please contact us.