Market Update: Housing starts rebound in December

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.”

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