After reporting an unexpected drop in U.S. new home sales in the previous month, the Commerce Department released a report on Wednesday showing an even more substantial decrease in new home sales in the month of November.
The Commerce Department said new home sales plunged by 11.0 percent to an annual rate of 841,000 in November after sliding by 2.1 percent to a revised rate of 945,000 in October.
Economists had expected new home sales to dip by 0.4 percent to a rate of 995,000 from the 999,000 originally reported for the previous month.
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Forex News
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.