U.S. home sales take 16.7 percent dive in December

Mike Riggs Contributor
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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 –