“After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit.”
There were 5.45 million existing homes sold in December 2009, a sharp decline from the 6.54 million sold in November. Expectations were for a drop, but only to 5.95 million.
The tax credit has been extended and expanded, therefore expectations are for home sales to increase in the spring.
Source: National Association of REALTORS
Despite the poor news, it does not appear to have had much impact on the markets. US stocks are up though timidly and the USD is fairly flat.
