Tuesday, January 22, 2013

Sales of U.S. Existing Homes Decrease on Lack of Supply - Bloomberg

Sales of U.S. existing homes unexpectedly dropped in December as the lowest supply in more than a decade cut into the industry’s best year since 2007. Purchases fell 1 percent to a 4.94 million annual rate last month, figures from the National Association of Realtors showed today in Washington. The reading was still the second-highest since November 2009. The median forecast of 79 economists surveyed by Bloomberg called an increase to a 5.1 million rate.

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