WASHINGTON - Housing starts rose to a seasonally adjusted annual rate of 2.070 million units in October, reported the U.S. Department of Commerce. This is 4.5 percent above October's upwardly revised estimate of 1.980 million units, as well as 17.6 percent above the November 2002 rate, and the strongest rate of housing production since February 1984.
"We are closing in on an incredibly strong year," stated Kent Conine, president of the National Association of Home Builders (NAHB). "Builders have been striving to meet robust demand for homes, and the market still has a lot of strength."