Market Update: Housing Starts slow down in April

Housing starts fell 2.6 percent to a seasonally adjusted annual rate of 1.17 million units. Quicken Loans Executive Vice President of Capital Markets, Bill Banfield offers the following comments on the report.

“As expected, the spring homebuying season has been off to a very strong start. It’s encouraging to see homebuilders breaking ground on more single-family homes, as this can help ease some of the pressure with the market lagging in inventory. Moving into the summer months, we’d like to see a stronger pace of construction to help offset this growing demand.”

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