November’s housing starts report showed a 10.5 percent rise in new home construction nationally. Permits for single-family homes rose 1.1 percent. Quicken Loans Vice President Bill Banfield offers the following comments on the report:
“The housing market continues to show signs of durability and resilience with November housing starts rebounding from a disappointing drop in the previous month. The choppy monthly numbers have been on a gradual trend in a positive direction and the strong monthly permits bodes well as we enter the new wave of interest rate increases by the Federal Reserve.”
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