On Monday, the National Association of Realtors is going to release their report on existing home sales. It is likely to look lousy, with declines and the media worrying about another free-fall in the market.
I don’t think you need to worry about it. The drop in from November is mostly due to folks rushing to get in before the tax dediction, now extended, expired. Month to month numbers don’t really mean as much as the press normally would make them appear. Year to year trends are more instructive.
At any rate, when you hear the lousy housing report on Monday, you can be over it in advance.
