Market Update: Housing Starts Drop 8.8% in March

This morning’s Census Bureau report showed that housing starts in March dropped 8.8 percent to an annual rate of 1.09 million units (SAAR). Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“Today’s housing starts data is further proof of the volatile nature of these reports. While an 8 percent drop sounds like a major hit to the housing market, it’s important to focus on the overall upward trend of growth showing opportunities for a strong housing market remain in place.”

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