NEW YORK -- A modest drop in November housing remains mired in slow growth and gave the Federal Reserve Board additional support for a decision to ease credit, economists said.

"Housing, like auto sales, has lost forward momentum due to weak income, job loss, and concern about future economic events," said Joe Carson, chief economist at Chemical Banking Corp. in New York.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.