Housing starts fall 1.6% in November

This morning’s housing starts report showed a 1.6 percent decrease in new home construction and permits for single-family homes fell 1.2 percent. Quicken Loans Vice President Bill Banfield offers the following comment on the report.

“The November Housing Starts were better than the headlines suggest. Four out of the last five months have had starts over 1 million, and despite a slight drop from October’s revised numbers, lower interest rates leading into the winter may help keep the much needed momentum in the housing market.”

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