US November existing home sales 4.13m vs 4.15m expected

The November existing home sales in the U.S. were reported at 4.13 million, falling short of the expected 4.15 million. While there was a 0.5% increase compared to the previous month, it markedly lags the prior growth rate of 1.2%. As a result, shares of homebuilders have faced downward pressure this week due to poor earnings and weaker forecasts. The negative impact on housing stocks highlights the broader challenges in the real estate market, especially as rising construction costs and decreasing demand weigh heavily on performance. Investors will be closely watching upcoming data releases to assess the trajectory of the U.S. economy, although the current sentiment suggests continued selling pressures may persist in the market.