Market Update: Housing Starts Increased in November

This morning’s Housing Starts report showed a 2.0% rise in new home construction, to an annual rate of 936,000 units.

Bill Banfield, Quicken Loans Executive Vice President of Capital Markets, offers the following insight on the report:

“Homebuilders are clearly responding to the strong economy with this second straight month of construction growth,” said Bill Banfield. “With great jobs numbers in November, and consumer sentiment holding at a 10-year high, a hefty housing supply will be needed to match increasing consumer demand as we approach the Spring and Summer buying season.”

If you would like to speak to Bill about this or any other topic, please contact us.