Market Update: Housing Starts Steady in August

Housing starts fell 0.8 percent to a seasonally adjusted annual rate of 1.18 million units. Quicken Loans Executive Vice President of Capital Markets, Bill Banfield offers the following comments on the report.

“Rising permits and the resilience of starts in single-family homes continue to be bright spots for the housing market. With a strengthening job market and relatively low mortgage rates, homebuilding activity across the country is poised for steady growth.”

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