U.S House sales probably fell in November as the slump continues

[forexblab]

Sales of new and existing homes in the U.S. fell in November to a nine-year low as a scarcity of credit and falling consumer confidence dissuaded potential buyers, economists said before reports today. The U.S. housing recession and credit crisis may extend into 2009, signaling little relief for the broader economy. The Federal Reserve last week dropped its target rate to as low as zero to spur lending, while President-elect Barack Obama has pledged to work to halt foreclosures, boost housing.