Following a decline associated with unusually wet weather in November, housing starts bounced back in December, bringing single-family production to a record annual level in 2004. Furthermore, the backlog of unused permits rose in December, providing forward momentum for housing production starting off the new year.
Housing starts in December climbed 10.9 percent to a seasonally adjusted annual rate of 2.004 million, according to the Commerce Department’s monthly report on residential
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