Amid Omicron anxiety, surging mortgage rates, and a dip in homebuilder sentiment, analysts expected a modest 0.6% MoM drop in existing home sales in December, but while they were right on direction, the magnitude was way off as December Existing Home Sales crashed 4.6% MoM - the biggest MoM drop since Feb 2021.
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US Existing Home Sales Suffer Biggest December Drop Since 2009
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