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HUD Archives: News Releases

HUD No. 02-026
Contact: Lemar Wooley
(202)708-0685 x6631
For Release
February 25, 2002

Statement from HUD Secretary Mel Martinez on January Sales of Existing Homes

According to the National Association of Realtors, existing homes sales for January set a new monthly record, topping the six million mark for the first time. Existing home sales jumped 16.2 percent from December to a seasonally adjusted annual rate of 6.04 million units. That is the largest monthly increase on record and is up 14.6 percent from the sales in January 2001.

"Increasing homeownership, particularly minority homeownership, has been and will continue to be a top priority for the Bush Administration," said Housing and Urban Development Secretary Mel Martinez.

"The record increase in existing home sales demonstrates the work HUD accomplished last year and will continue to accomplish through the President's downpayment assistance initiative, increases in funding for housing counseling services and removing the barriers for community and faith based organizations to assist all Americans in achieving the dream of homeownership."


Content Archived: April 9, 2010

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