Reuters - Video

EDITION: U.S. | U.K. | IN

9/11

Daily Digit: Home resales down 1%

Tuesday, Jan 22, 2013 - 01:51

Jan. 22 - Existing home sales fell 1 percent in December, but the housing recovery is on track, says Coldwell Banker CEO Budge Huskey. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

The Daily Digit today is 1 percent. Existing home sales dropped 1 percent in December to a seasonally adjusted annual rate of 4.94 million units, according to the National Association of Realtors. The sales rate was not as high as economists predicted, but still it is the second-highest rate of sales since November 2009, when sales were lifted by a federal tax credit for home buyers. CEO of Coldwell Banker, Budge Huskey, says even with last month's decline, the housing recovery is going strong. SOUNDBITE: BUDGE HUSKEY, CEO, COLDWELL BANKER, (ENGLISH) SAYING: "The most important figure is the comparison year-over-year, and sales of resale homes in December were up 12 percent above the same period of time last year. So, it continues what we've see as the streak of year-over-year increases in home sales." And the outlook remains firm. SOUNDBITE: BUDGE HUSKEY, CEO, COLDWELL BANKER, (ENGLISH) SAYING: "So we have home sales continue to increase, we have prices continue to increase, we have inventories at the lowest level that they've been in many years. All this is really an indication of what is a solid foundation for continuing housing recovery in 2013." But Huskey warns, the recovery cannot be sustained without a solid economic foundation. SOUNDBITE: BUDGE HUSKEY, CEO, COLDWELL BANKER, (ENGLISH) SAYING: "Probably when you think about the overall economy, the housing recovery has continued in a very fast pace during this last year, probably even faster than the pace of the overall economy. Of course, for housing recovery to be truly sustainable, the economic foundation has to be there. So, we have to see continued improvement in that direction." He's also keeping his eye on what's going on in the credit markets, particularly in regards to regulations on qualified mortgages, because that will determine what financing some prospective home buyers will have access to.

Daily Digit: Home resales down 1%

Tuesday, Jan 22, 2013 - 01:51

Top News »

Most Popular »

Money »

S&P 500 to new record on improving economy S&P 500 to new record on improving economy

Fri, Aug 29, 2014 - (2:31)

Finding meaning in the S&P 500 2000 mark Finding meaning in the S&P 500 2000 mark

Mon, Aug 25, 2014 - (2:35)

S&P falls back from record high S&P falls back from record high

Fri, Aug 22, 2014 - (1:35)

S&P 500 closes at new high S&P 500 closes at new high

Thu, Aug 21, 2014 - (1:24)

S&P 500 just shy of record S&P 500 just shy of record

Wed, Aug 20, 2014 - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)