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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.