US new home sales post unexpected decrease in November
US new home sales declined 1.6% to reach a seasonally adjusted annual rate of 438,000 units in November, falling to the lowest level in four months. Economists’ initial estimates called for a pace to 460,000 units in November, according to a survey conducted by Bloomberg.
Meanwhile, the Commerce Department previously announced that US new housing starts decreased 1.6% to a seasonally adjusted annual rate of 1.028 million units in November, posting the first decrease since August while building permits were also down 5.2% to an annual rate of 1.035 million units.
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