Statement from HUD Secretary Mel Martinez on Home Sales in September WASHINGTON, Oct. 27 /PRNewswire/ -- The Census Bureau and HUD released data today showing that sales of new single-family homes rose in September to the third highest rate on record. An estimated 1.145 million new homes were sold last month. This is an increase of 8.3 percent from September of last year. This marks the seventh month in a row with sales over one million. Existing home sales set a third consecutive monthly record in September. According to the National Association of Realtors, sales of previously owned single-family homes rose 3.6 percent to a record rate of 6.69 million units. This is 20.8 percent above September 2002. "This continued growth is another sign that housing is still leading the way in our rebounding economy. This Administration is committed to making it easier for more families to realize the dream of homeownership," said Housing and Urban Development Secretary Mel Martinez. "The President's housing initiatives will help more Americans, particularly minorities, to achieve that dream." Earlier this year, the Administration announced several 2004 budget proposals aimed at increasing the production of affordable housing, combating regulatory barriers, and helping more low-income, minority families become homeowners. These proposals include: $113 million increase for the Department's HOME Investment Partnerships Program, which will boost the supply of housing that is affordable to low-income families, as well as an additional $200 million for the American Dream Downpayment Fund to help low- to moderate- income families become first-time homeowners and an added $2 million for research to help reduce regulatory barriers to affordable housing. Additionally, HUD is requesting an additional $10 million toward housing counseling to help thousands more low-income individuals and families find and maintain homes. HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at http://www.hud.gov/. DATASOURCE: U.S. Department of Housing and Urban Development CONTACT: U.S. Department of Housing and Urban Development Office of Public Affairs, +1-202-708-0685 Web site: http://www.hud.gov/news.html http://www.hud.gov/

Copyright