Market Update: Housing Starts Continued Hot Streak in October

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.”

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