The Real Deal Miami

Decline in home sales small potatoes?

January 22, 2010 06:51PM

The National Association of Realtors is expected to release a dismal existing home sales report Monday but Wall Street Journal reporter James Haggerty said it’s nothing to get upset about. The report, which will detail December market performance, will likely show a steep drop from November’s sales levels, but this will largely be attributable to the changing first-time homebuyer tax credit, Haggerty said. “November got a boost from people rushing to qualify for a tax credit on home purchases,” Haggerty said, adding that we might see another spike in sales as the new tax credit deadline, April 30, approaches.