While we will not know for sure until the 2000 census is tabulated, the surge in  1  BIS Review 60/2000  new home sales is strong evidence that the growth of owner-occupied homes has accelerated during the past five years.
Those who focus on the high and rising stocks of durable assets point out that even without the rise in interest rates, an eventual leveling out or some tapering off of purchases of durable goods and construction of single-family housing would be expected. Reflecting both higher interest rates and higher stocks of housing, starts of new housing units have fallen off of late.