More bad news - Dec. homes sales down nearly 17 percent.

From the AP:

http://bit.ly/5dOteV

"Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit."

"December's sales fell 16.7 percent to a seasonally adjusted annual rate of 5.45 million, from an unchanged pace of 6.54 million in November...Sales had been expected to fall by about 10 percent, according to economists surveyed by Thomson Reuters."

I wonder if these are the same "economists" than Thomson Reuters polled for the unemployment numbers, which were off by a significant margin as well. It might be time to find some new economists to poll.

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