New home sales in the US fell to 438K on an annualized basis vs a revised 445k (was 458K). The existing home sales for November was also a surprise to the downside. They were reported at 4.93K vs 5.20 estimate and 5.25K last month.
So overall, home sales data for November were not that great.
Also reported at 10 AM was Personal income and personal consumption. Income rose by 0.4% which was the estimate (prior month was revised to +0.3% from +0.2%). Spending rose by 0.6% vs 0.3% last month (revised up from 0.2%).
Below is a look at the trends in the new home sales data.
Trends in New Home sales
