March 18,2005: Housing Starts Set Record Again In February
WASHINGTON - Total housing starts increased by 0.5 percent to a seasonally adjusted annual rate of 2.195 million units, setting a new 21-year-record for the second month in a row, according to U.S. Department of Commerce statistics. The February construction pace was also 15.8 percent above a year ago.
"Builders are reporting that there is still plenty of traffic in their sales offices," said Dave Wilson, president of the National Association of Home Builders (NAHB). "Mortgage rates, employment, household income, and other favorable market conditions continue to drive demand."