EVANS HAILS NEW HOME SALES LARGEST JUMP IN FOUR YEARS

WASHINGTON, D.C. – Secretary of Commerce Donald L. Evans today praised the skyrocketing demand for new home sales and credited the President’s economic policies saying Americans now have the confidence and money in their pockets to make more long-term decisions.

“More Americans have keys to their new homes thanks to the President’s economic leadership. They have more money in their pockets and have more confidence to make long-term decisions like buying a home.”

Demand for new homes rose by +9.4% to 1.184 million units as new home sales made its biggest jump in nearly 4 years and biggest increase since President Bush came into office. New home sales have averaged 1.18 million units in the first eight months of 2004 and are on track for another record year.

Housing starts, building permits, existing home sales and the Homebuilders’ housing market index all remain at high levels.