Market Update: Housing starts rise 4.4% in December

This morning’s housing starts report showed a 4.4 percent increase in new home construction and permits for single-family homes rose 4.5 percent. Quicken Loans Vice President Bill Banfield offers the following comment on the report.

“2014 ended on a high note for home builders, with construction on new homes rising significantly in December. This, paired with the year-over-year change marked 2014 as the strongest calendar year total since 2007. With permits for single-family homes rising in tandem, the fastest rate in six years, the outlook for development is looking bright as we head into spring.”

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