Home sales rebound in November after five-month slide
Existing U S home sales rose 0.8 percent in November to a seasonally adjusted annual rate of 3.82 million, topping forecasts of 3.78 million. The gain leaves prices higher year over year with the national median at 387,600 dollars as mortgage rates eased from 7.79 to about 6.95 percent.
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Consumer confidence rises as holiday shopping season nears
The Conference Board reports the U S consumer confidence index climbed to 110.7 in December from 101 in November, defying forecasts of 104.5 and marking the highest level since July. Short-term expectations rose to 85.6 from 77.4, first above 80 in four months, while recession fears eased.
IRS Forgives Penalties for Under 100K Back Taxes
The IRS will waive about 1 billion in penalties for taxpayers with back taxes under 100,000 per year for 2020 and 2021. Nearly 5 million eligible include individuals businesses and tax exempt groups earning under 400,000 annually. Relief applies to those who received a balance due notice between Feb 5 2022 and Dec 7 2023 and filed Form 1040 1041 1120 series or 990 T.
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