New home sales in the U.S. rebounded strongly from a substantially downwardly revised level in the month of November, according to a report released by the Commerce Department on Thursday.
The Commerce Department said new home sales soared by 12.4 percent to an annual rate of 744,000 in November.
However, the sharp increase came from a downwardly revised rate of 662,000 in October, which was down 8.4 percent from the revised September rate of 723,000.
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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.