US housing starts tumble to lowest for a year - 2004-07-20
US housing starts dropped unexpectedly in June to their lowest level in more than a year on a huge decrease in single-family home construction as rising interest rates slowed the hot housing market, a government report showed on Tuesday.

Mortgage interest rates fell to near historic lows at the beginning of 2004, fueling strong demand for homes. But with the U.S. economic recovery gaining strength, interest rates crept higher last month, making homes more expensive and dulling appetite among buyers.
Read the full story at Financial Times

Home prices set new record in state - 2004-07-20
California's real estate market showed no evidence of slowing in June as buyers snapped up homes and condos at a record clip and helped drive the median price for a home to an all-time high of $382,000.

The sales figures suggest buyers sought to lock in a mortgage rate amid speculation rates would rise following action by the Federal Reserve at the end of the month.
Read the full story at The Woodland Daily Democrat Online