United States Housing Market Still Booming

The Arizona Republic reports that new home construction rose 0.2% in May, fueled by low mortgage rates. "We still have a red hot housing market," said David Seiders, chief economist of the National Association of Home Builders. Maricopa County had 5,294 house permits issued in April, down 105 from April 2004. But permits are up 18.9% this year to date. More...