Market update: U.S. housing starts rise 6.5% in September

This morning’s Census Bureau report showed that housing starts in September rose 6.5 percent to an annual rate of 1.21 million units (SAAR). Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“September’s rise in housing starts, after a small hiccup last month, is a testament to the overall momentum and progress the housing market has made in 2015. While this growth was led primarily by multi-family homes, continued builder confidence provides opportunity for an increase in construction of single-family homes.”

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