Oct. 20, 2004: Wet Weather Slows Housing Starts In September
WASHINGTON - The pace of housing starts slowed in September, according to U.S. Department of Commerce figures. The National Association of Home Builders (NAHB) cited unusually wet weather conditions across much of the country for the decline.
The government reported that housing starts dropped 6 percent from the best pace of the year to a still-solid rate of 1.9 million units on a seasonally adjusted annual basis in September. Meanwhile, issuance of new permits, which can be an indication of future building activity, rose 1.8 percent to an over 2 million-unit rate, and the number of permits that have been issued but not yet used rose to the highest level since the 1970s.