Home construction saw huge decline in January - 2004-02-19
The number of housing projects builders broked ground on in January decreased by a significant amount in nearly a year as bad winter weather played havoc with construction activity.
Home sales reached record high levels in 2003, powered by low mortgage rates that proved too good for buyers to pass up. Sales of both previously owned homes and new ones should have their second best year ever in 2004 - even with an expected rise in mortgage rates, economists said.
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