Housing strong on low interest rates.(Housing market)
Home Textiles Today, May, 2004 by Hogsett, Don
WASHINGTON -- Building on February's gains and recovering from a deep slide in January, the broad American housing market made another strong advance during March, with all three sectors helped by improving weather and low interest rates. Putting up the strongest number was the volatile market for costly new homes, subject to wide monthly swings, where sales jumped 8.9 percent, to a seasonally adjusted level of 1.2 million units.
Housing starts, a guide to home builder confidence and future sale activity, improved 6.4 percent, to a seasonal 2 million units. Sales of older, and generally less costly, existing homes, climbed 5.7 percent, to a seasonal level of 6.5 million units. The gains were spotty when measured on a regional basis, with the...
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