FROM THE OFFICE OF PUBLIC AFFAIRS

The strength of the housing sector continues to bolster the economy. New home sales in 2003 topped 2002 by nearly 12 percent to reach the best year on record. This follows a report earlier this week which found existing home sales also set a record in 2003, posting an almost 10 percent gain over 2002.

Record-breaking home sales build on encouraging news in housing construction. Last week’s report on housing starts found them reaching a twenty-year high in December.

While we are pleased by the continuing strength of the housing sector, as well as many other areas of the economy, we are not satisfied. Remaining steadfast in this Administration’s commitment to improving the environment for job creation, the President will continue in his efforts to ensure that every American looking for work can find a job.