U.S. housing recovery running out of steam? Not so fast, says Coldwell Banker CEO Huskey
U.S.home resales unexpectedly fell in December, but the drop was not large enough to suggest the recovery in the housing sector is running out of steam.
The National Association of Realtors said on Tuesday that existing home sales dropped 1.0 percent last month to a seasonally adjusted annual rate of 4.94 million units.
Reuters television’s Conway Gittens interviews Budge Huskey, CEO of Coldwell Banker.
He says despite last month’s pullback he sees a “solid foundation for a continuing housing recovery in 2013.”