Existing home sales plunged more than expected in December, according to a report from the National Association of Realtors, after the original deadline for the first-time home buyers’ tax credit expired.
According to the NAR, first-time home sales fell by 16.7% in December to an annualized rate of 5.45 million units, a much steeper drop than the 5.9 million units economists had expected.
Full story: Existing Home Sales Plunged Nearly 17% in December – FOXBusiness.com.