New home sales in the U.S. saw a notable pullback in the month of December after skyrocketing in the month of November, according to a report released by the Commerce Department on Friday.
The report said new home sales slumped by 1.7 percent to an annual rate of 745,000 in December after soaring by 15.5 percent to an annual rate of 758,000 in November.
Economists had expected new home sales to come in at annual rates of 735,000 in November and 728,000 in December.
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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.