Housing Numbers That Don't Add Up

Mistake? Fluke? Or has the boom in sales been reignited?

For a while there, it looked as if the housing sector was feeling the brunt of the six interest-rate hikes the Federal Reserve Bank had orchestrated since June, 1999. After five years of white-hot growth, the interest-rate-sensitive industry had shown signs of cooling since spring. Indeed, everything from home sales to building permits had tumbled in recent months.

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