Housing starts rose 11.3 percent in December to a seasonally adjusted rate of 1.23 million units. Quicken Loans Vice President Bill Banfield offers the following comments on the report.
“2016 ended on a high note for home builders, with a rebound in construction on new homes in December. While tight inventory continues to be an anchor holding back the housing market, the year-over-year growth shows momentum is building and heading in the right direction. Demand should remain high as confidence in the economy grows stronger.”
If you would like to speak to Bill about this or any other topic, please contact us.