New Home Sales up 5.3 Percent in February; FHA Insured Mortgage Loans up 20 Percent, Multifamily up 50 Percent in FY 2002.

Monday, April 01, 2002
HUD and the Census Bureau recently released data showing sales of new single-family homes rose in February to 875,000 - an increase of 5.3 percent from January. And, HUD's Federal Housing Administration reported that FHA-insured single-family mortgage loans are up 20 percent so far this fiscal year, and up 50 percent on multifamily homes.

"All of this is further evidence that housing continues to lead the way in turning our economy around. This Administration is committed to building on these accomplishments by making it easier for more Americans to realize the dream of homeownership," Secretary Martinez said.

"The President's new housing initiatives, which include the downpayment assistance program and increased funding for housing counseling services, will pave the way for thousands more to achieve that dream."

Read the full statement from Secretary Martinez.

Every year, thousands and thousands of homebuyers decide that buying a "HUD Home" gives them the best value for their investment. If a HUD Home is right for you, you'll find that "shopping" for a home being sold by the Department is easy on HUD's Internet website. An updated list of properties is available online, and potential homebuyers can do a quick search in the states and communities of their choice.

Check for HUD Homes for sale across the nation.

Read the most Frequently Asked Questions about HUD Homes.

 

 
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