Economics
U.S. Home Resales Due for New Low, Citigroup Says: Chart of Day
This article is for subscribers only.
Home resales in the U.S. may have tumbled to a record low in July as the expiration of federal tax credits dragged down the housing market, according to Josh Levin, a Citigroup Inc. analyst who follows homebuilders.
The CHART OF THE DAY shows how his estimate for last month, an annual rate of 4.1 million units, compares with the monthly totals since the National Association of Realtors consolidated sales figures for single-family homes and condominiums in 1999.