David
Joined: 19 May 2004
Posts: 754
Location: Atlanta, GA
|
| Posted: Sat Feb 19, 2005 7:57 pm Post subject: Housing Starts Highest in 20 Years |
|
|
Quote: Construction of new homes and apartments rose 4.7 percent in January to the highest level in two decades as low mortgage rates continued to power the nation's housing industry.
The Commerce Department reported Wednesday that builders began construction on 2.16 million units at a seasonally adjusted annual rate last month, up from a rate of 2.06 million units in December.
The January increase caught economists by surprise. They had been forecasting a decline of around 3.7 percent, reflecting rain in the West and winter storms in the East, which had been expected to hold down construction activity.
Source |
|
