4619 Outlook

Economic Outlook: December 25, 2020

Dec 23, 2020  | Ep4619

After everything, 2020 may well be remembered for the incredible year in the real estate market. ---

Existing home sales dropped for the first time in five months. The National Association of Realtors added that as inventory fell to a record low, prices were 26 percent higher than a year ago.

Sales of new homes fell 11 percent in November. However, year-over-year stats are up nearly 21 percent. Land, materials and skilled labor remain strains on the builder. 

Big ticket holiday gifts like a new washing machine help with household chores and the economy. Orders for durable goods rose 0.9 percent.

Congress sent a $900 billion stimulus bill to the president for his signature -- which as of the taping of this program on Wednesday afternoon -- had yet to be done.  

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