Sales of new U.S. single-family homes rose to a seven-month high in December, but November’s outsized jump was revised lower, pointing to continued weakness in the housing market.
U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply
Existing home sales, which make up about 90 percent of U.S. home sales, plunged 10.3 percent from a year ago. For all of 2018, sales fell 3.1 percent to 5.34 million units, the weakest since 2015.
Mortgage rates have fallen to around their lowest levels in eight months, offering a potential boost to the housing market after a rough patch in recent months
Stock-market swings, high home prices and a traditionally slow time of year for home buying have largely kept a lid on housing-market activity in recent months. Yet as rates have steadily fallen, some agents said they have seen buyers start to creep back into the market.