Market Update: Housing Starts Dipped for First Time in More Than Half a Year in January

November’s New Residential Construction report showed a 12.2% decrease in privately-owned single-family housing starts, to an annual rate of 1,162,000 units.

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

“After a hot streak of construction in the latter half of last year, a modest pause should not be viewed as a slowdown in momentum.  There is a lot of positive energy in the market – evidenced by intense demand to own a home – that will continue to support housing into 2021.”

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