Sept. 22, 2004: August Housing Starts Return To Highest Pace Of Year
WASHINGTON - Housing starts climbed back to the highest pace of the year in August, reaching a seasonally adjusted annual rate of 2 million units, the U.S. Department of Commerce reported. The 2-million-unit pace, which matched the pace set in March, was 0.6 percent above July's upwardly revised rate of 1.988 million. Total housing starts were up by 10.4 percent on a year-to-date basis.
"Builders remain confident about the market and are keeping up with strong demand for single-family homes and condominiums," said Bobby Rayburn, president of the National Association of Home Builders (NAHB). "However, builders are managing their production schedules carefully and cutting back slightly on the number of new building permits."