WASHINGTON (AP) - December sales of new homes are expected to
show a rebound Wednesday after an unexpected plunge a month
earlier.
It's seen as a sign that the ailing market is finally climbing
back from the worst bust in decades.
Economists polled by Thomson Reuters say the Commerce
Department's report is forecast to show a 4.2 percent increase to a
seasonally adjusted annual rate of 370,000, from 355,000 in
November.
New home sales fell 11 percent from October to November,
indicating that consumers were taking their time after lawmakers
extended the tax credit deadline from Nov. 30 until the end of
April.
Experts forecast that any housing recovery this year will be
slow and sluggish.
Copyright NECNMIGR - NECN
