October’s New Residential Construction report showed a 6.4% increase in privately-owned single-family housing starts, to an annual rate of 1,179,000 units.
Bill Banfield, Rocket Mortgage Executive Vice President of Capital Markets, offers the following insight on the report:
“The building of new homes continued its hot streak in October due to sky high demand across the country. While there is a usual lull during the winter months, we are hopeful this high rate of construction continues to ensure there is ample supply on the market in the spring.”
If you would like to speak to Bill about this or any other topic, please contact us.