Existing home sales resumed an
upward trajectory in December. After drifting lower by 2.5 percent in November,
breaking a five-month streak of gains, the National Association of Realtors®
(NAR) said sales in the last month of the year rose 0.7 percent. Sales of single-family homes,
townhomes, condominiums, and co-ops, were at a seasonally adjusted annual rate
of 6.76 million during the month, compared to 6.69 million units in November. This
represented a 22.2 percent increase over the 5.53 million unit rate a year
earlier. The numbers were above the 6.40
million to 6.62 million range of forecasts by analysts polled by Econoday. Their
consensus was for an annual rate of 6.55 million units.


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