U.S. home sales fell hard in December, as in a 6.4-percent decline from November and a 10.3-percent drop from a year earlier, according to a monthly update Tuesday from the National Association of Realtors.
Big shifts like that are rare and usually associated with the rollout of a government program. There weren’t any. Big drops can also signal an economic slowdown, although the evidence is still mixed on that front.
“The latest decline is harder to explain. Perhaps it is the decline in consumer confidence that’s been occurring in the latter half of 2018,” said Lawrence Yun, chief economist for the NAR in […] Read more