The National Association of Realtors (NAR) December Existing Home Sales (EHS) data is due out at 10:00am EST this morning.
The December release can be found here:
November EHS came in at a seasonally adjusted annual 6.28M, consensus estimates put the December number at 6.30M.
From the AP:
Sales of existing homes fell in December, closing out a year in which demand for homes slumped by the largest amount in 24 years.
The National Association of Realtors reported that sales of existing homes were down 0.8 percent last month, a bigger decline than had been expected. For the year, sales fell by 8.4 percent, the biggest annual decline since 1982, when existing home sales fell by 17.7 percent in the midst of a severe recession.
The sales figure underscored the sharp contraction that is going on in the once high-flying housing market, which before last year had set sales records for five straight years.
Even with the sharp drop in sales last year, the median price of an existing home sold in 2006 managed to rise a slight 1.1 percent. But that was far below the double-digit gains during the boom years. The median home price had risen by 12.4 percent in 2005.
Sales of previously owned homes in the U.S. declined in December after increases the prior two months that pointed to a gradual improvement in the housing market. Sales for all of 2006 fell by the most in 24 years.
Purchases dropped 0.8 percent last month to an annual rate of 6.22 million, from 6.27 million in November, the National Association of Realtors said today in Washington. December sales fell 7.9 percent compared with a year earlier.
Resales were expected to drop 0.5 percent to a 6.25 million annual rate from November’s originally reported 6.28 million, according to the median of 65 forecasts in a Bloomberg News survey. Estimates ranged from 6 million to 6.4 million.
For the year, 6.48 million existing homes were sold, down 8.4 percent from 2005. The decline was the biggest since 1982.
The median price of an existing home last month was unchanged from a year ago at $222,000, the Realtors group said. For the year, the median resale price averaged $222,000, an increase of 1.1 percent from 2005.