Market Update: Housing starts decrease 9 percent for September

Housing starts dropped 9 percent in September to a seasonally adjusted rate of 1.05 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.

“The headline number in this month’s report doesn’t tell the full story. Single-family starts made significant gains in September, which is welcome news to a housing market that has continued to lack inventory, especially in the entry-level sector.”

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