Market Update: Housing Starts Surge in June

Housing starts rose 4.8 percent in June to a seasonally adjusted rate of 1.189 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“While we often see volatility in the month-to-month data, June’s rise in housing starts shows a sturdy demand for new homes as we move into the second half of the year. The growing job market coupled with low mortgage rates continues to provide a boost to the housing market.”

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