WASHINGTON — Statistics released by the U.S. Department of Commerce showed that housing starts were at a seasonally adjusted annual rate of 1.78 million in March, an increase of 8.3 percent from February’s pace of 1.64 million units.
“In an economy that continues to display overall weakness, housing remains a remarkable source of strength,” stated Kent Conine, president of the National Association of Home Builders (NAHB), “and we are confident that the industry will experience a very good year in 2003.”