U.S. new home sales saw a surprising 5.9% increase in November, reversing the previous month's decline.

U.S. new home sales increased by 5.9% in November, reaching an annual rate of 664,000, surpassing expectations and reversing a 14.8% October decline. Despite a 5.4% year-over-year decrease in median sales price to $402,600, analysts predict ongoing housing market challenges due to 30-year fixed mortgage rates now exceeding 7%. Existing home sales also rose by 4.8% in November.

3 months ago
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