This morning’s housing starts report showed a 2 percent increase in new home construction nationally, with new construction raising 114 percent in the Northeast and 31 percent in the Midwest. Permits for single family construction also rose 2.1 percent in March. Quicken Loans Vice President Bill Banfield offers the following comments on the report:

“New home construction is beginning to bloom as we move into spring. The rise in permits for single family home construction is especially hopefully for all the homeowners in the move-up market looking for a newer home. This will in turn give much needed supply to first time homebuyers.”

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