Market Update: Housing Starts Show Large Growth

Today’s housing starts report showed a 15.7 percent increase in new home construction and permits for single-family home construction raised 0.9 percent. Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“July’s spike in new construction and the increase in permits is the shot in the arm that the housing industry was looking for. Now that construction is more in line with homebuilder confidence, the end of the lull that has been holding down the market since the beginning of the year may finally be here.”

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