Market Update: Housing Starts fall 4.8% in July

Housing starts fell 4.8 percent to a seasonally adjusted annual rate of 1.16 million units. Quicken Loans Executive Vice President of Capital Markets, Bill Banfield offers the following comments on the report.

“Despite the monthly volatility, we continue to see gradual growth in starts of single family homes on a year-over-year basis. This steady increase is a sign of a stabilizing market and gives optimism that the economy can continue to support more homeownership.”

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