WASHINGTON - Housing starts rose 6.4 percent to a seasonally adjusted annual rate of 2.03 million units in October, according to figures released by the U.S. Department of Commerce, offsetting the weather-related dip recorded in September.
"This expected rebound virtually ensures that home builders will set a new record for single-family home production in 2004, and is an excellent sign of continued momentum in the overall housing market," said Bobby Rayburn, president of the National Association of Home Builders (NAHB).