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Home sales plummet in December

from By Michael J. Berens

From January 30: A bad year for housing got even worse in December as sales of existing homes plunged to their lowest level in over three years. Annual existing home sales ended the year down nearly 11 percent. Due to the government shutdown, official figures on sales of new homes are not yet available, but some industry sources project those, too, fell in December. Following two months of modest growth, existing home sales (by volume) tumbled 6.4 percent in December, compared to November, hitting their lowest point since September 2015. Although December traditionally is a slow month for home sales, that was nearly twice the size of last year’s month-over-month decline. more

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