Home Building, Sales Probably Languished: U.S. Economy Preview

Homebuilding probably dropped in December and sales of existing houses struggled to rebound from a post-tax credit slump, reflecting a market trying to regain its footing more than a year into the economic recovery, economists said before reports this week.

Builders began work on 550,000 houses at an annual rate, down 0.9 percent from November, according to the median estimate of 61 economists surveyed by Bloomberg News before Commerce Department data Jan 19. Other reports may show purchases of previously owned homes rose for a second month and a gauge of the economic outlook climbed.