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by CareyBot

New-home construction gained in August from the previous month, the U.S. Census Bureau and U.S. Department of Housing and Urban Development announced today, while building permits slowed. Privately owned housing starts in August rose 0.6 percent in August from the previous month, registering a seasonally adjusted annual rate of 2 million units. Last month's pace is 9 percent above the August 2003 rate of 1.83 million units. Single-family housing starts in August 2004 were at a rate of 1.67 million, up 0.4 percent above the July figure of 1.66 million. The August estimate for units in buildings with five units or more was 265,000. Privately owned housing completions in August were at a seasonally adjusted annual rate of 1.89 million units, up 1.6 percent above the revised July estimate...