Housing starts fall 2.8% in October

This morning housing starts showed a 2.8 percent decrease in new home construction and permits for single-family home construction rose 4.2 percent, the highest since November 2013. Quicken Loans Chief Economist Bob Walters offers the following comment on the report:

“Following a spike in September, housing starts declined in the month of October. However, housing starts for single-family homes rose to their highest point since this time last year. This, combined with the steady rise in permits, signals overall housing optimism.”

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