US Existing Home Sales plunged in December.
Existing-home sales ran at a seasonally-adjusted annual pace of 5.49 million, the National Association of Realtors said this Tuesday. That was down 2.8% from November.
U.S. New Home Sales Drop Sharply in December as well, the Commerce Department said Thursday.
Last month’s fall of 10.4% from November was the steepest since March 2015.
Home buyers are facing headwinds from higher mortgage rates and uncertainty about tax policy. As a matter of fact, US mortgage rates jumped to 4.32% by the end of December from 3.5% in early November, according to mortgage company Freddie Mac.
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