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Fannie Mae Responds to April Housing Starts Increase

Fannie Mae chief economist Doug Duncan has delivered a cautiously optimistic response to Census Bureau data showing that single-family housing starts rose 1.6% month over month in April to an annualized rate of 846,000 units. So reports Builder.

arrow 156792 640small“We are likely to upgrade our near-term starts forecast as the steady upward trend in permits since January is consistent with a tight inventory of existing homes pushing buyers toward the new-home market," Duncan said in a statement.

However, he also cited “downside risk,” noting that recent bank collapses probably mean tighter construction loan credit for smaller builders.

Read the full article from Builder.

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