Market Update: Housing Starts Rebound in November

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.”

If you would like to speak to Bill about this or any other topic, please contact us.