Market Update: Housing Starts fall again in May

Housing starts fell 5.5 percent to a seasonally adjusted annual rate of 1.092 million units. Quicken Loans Executive Vice President of Capital Markets, Bill Banfield offers the following comments on the report.

“For much of this spring homebuying season, builders have struggled to keep up with the growing demand from buyers. While overall confidence in the housing market and economy continues to strengthen, a shortage of skilled workers is starting to press on the industry.”

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