Forecast Says Existing Home Sales Up, New Home Sales Down
Existing home sales are projected to increase to 5.6 percent to 5.03 million units in December, and new home sales are expected to drop 3.2 percent to 474,000 that month, according to a Zillow report.
Existing home sales fell in November, possibly due to regulatory changes, but analysts are planning on an increase in December to leave existing home sales up 1.5 percent over the year.
New home sales have trended downward since February.