News - National
Existing home sales likely fell in December
Posted: Jan 25, 2010 7:39 AM by Associated Press
December sales of previously occupied homes are expected to be down sharply from the month before when numbers come out today.
Prospective buyers were given a five-month extension of a tax credit that initially was to expire Nov. 30. Lawmakers also added a new credit of up to $6,5000 for existing home owners who move.
Economists polled by Thomson Reuters forecast that sales completed in December fell 7.3 percent to a seasonally adjusted annual rate of 6.06 million. That's down from 6.54 million in November. The decline would reverse three straight months of increases.
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