Data released by the Commerce Department Wednesday morning showed new home sales in the U.S. fell sharply in the month of September.
The report said new home sales plunged by 5.5 percent to an annual rate of 553,000 in September from the revised August rate of 585,000.
Economists had expected new home sales to edge down to a rate of 625,000 from the 629,000 originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.