WASHINGTON - Housing starts increased to a seasonally adjusted annual rate of 2.007 million units in March, the U.S. Department of Commerce reported. The pace was 6.4 percent above February's upwardly revised rate of 1.887 million and 15.2 percent above the March 2003 pace.
"The housing market was supported by historically low interest rates, rising house values and a strengthening economy," stated Bobby Rayburn, president of the National Association of Home Builders (NAHB). "Builders remain confident about the market and expect to maintain a healthy pace through the coming months as we strive to keep up with strong demand for single-family homes and condominiums."