Market Update: Housing Starts Rise 5.2% in February

This morning’s Census Bureau report showed that housing starts in February rose 5.2 percent to an annual rate of 1.178 million units (SAAR). Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“A rise in housing starts this month shows signs of an early spring bloom for home-building. It is encouraging to see this month’s report was being driven by starts for single-family homes – rising to their highest levels in more than eight years. While we’ve experienced month-to-month volatility in these reports, it’s important to focus on the positive trend reflected in the year-over-year data.”

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