WASHINGTON (dpa-AFX) – In the USA, the number of new homes sold fell unexpectedly and significantly in November. 12.2 percent fewer new houses were sold than in the previous month, as the Commerce Department announced on Friday in Washington. Analysts, on average, had expected an increase of 1.6 percent. In the previous month, sales fell by a revised 4.0 percent (initially -5.6 percent).
The housing market is extremely important to the US economy. Among other things, consumers’ willingness to spend depends on house price developments via wealth effects.
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