Market Update: Housing Starts Cool in January

This morning’s Census Bureau report showed that housing starts in January declined 3.8 percent to an annual rate of 1.099 million units (SAAR). Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“Seasonal weather and the recent uncertainty in the stock market are likely explanations for the decline in January housing starts. Taking a step back to look at year-over-year growth, we continue to see healthy and steady gains. It should be noted that near record low mortgage rates and increased credit availability should give a boost to potential homebuyers as we move through the winter months.”

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