New-Home Construction Rebounds From Shock Of Hurricanes

New-home construction nationwide rebounded from the shock and devastation of hurricanes Katrina and Rita to maintain a vigorous pace in September, the U.S. Commerce Department reported.

Total housing starts increased 3.4 percent for the month to a seasonally adjusted annual rate of 2.108 million units following upward revisions to the July and August rates. The September construction pace was 10.3 percent above a year ago and remained above 2 million units for the sixth month in a row

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