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Data: NAR; Chart: Axios Visuals

Momentum in the housing market is slowing, just as consumer confidence is also showing weakness.

Why it matters: Year-end economic data tells a familiar 2020 tale of the haves and the have nots staking out their positions in the final months of the year.

Driving the news: U.S. home sales ended a five-month streak, the National Association of Realtors (NAR) reported Tuesday. Existing homes for sale in November fell 2.5% from October to a seasonally adjusted annual rate of 6.69 million in November.

Yes, but: In spite of the pandemic, total sales skyrocketed 25.8% to 5.32 million when compared to the prior year.

  • Median home prices also increased 14.5% to $310,800 from November 2019.

By the numbers: As coronavirus continues to rage, the Conference Board said its consumer confidence index dipped in December to 88.6, versus 92.9 in November. Assessment of current business and labor market conditions also took a dive to 90.3 from 105.9.

What they're saying: "The US economy is showing a bifurcated outcome," says NAR Chief Economist Lawrence Yun.

"So those who are homeowners and have exposure to the stock market, and office workers who can work from home, are immune to recession. It's all good for half of the country."

What to watch: More data points will be added to the economic picture today, with jobless claims, consumer spending, home sales and manufacturing statistics all on deck for release.

Go deeper

Dion Rabouin, author of Markets
Jan 19, 2021 - Economy & Business

Economic growth is slowly returning

Data: New York Fed; Chart: Axios Visuals

The New York Fed's index of real-time data indicators shows the reversal of the economy's progress in late December and early January, but it moved upwards again last week.

Driving the news: Central bankers said the index's rise for the week of Jan. 9 was due to increases in tax withholding, fuel sales and rail traffic, which countered disappointing numbers for initial unemployment insurance claims and a decrease in electricity output.

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.