Market update: Housing starts rise 6.6% in April

Housing starts rose 6.6 percent in April to a seasonally adjusted rate of 1.172 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“Housing starts have been notoriously volatile in recent months, but there are some encouraging figures in April’s report. Activity in the Midwest spiked after contributing to much of last month’s slowdown and nationwide building permits also rose, signaling positive momentum building in new home construction.”

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