Despite homebuilder sentiment soaring to 20-year highs, existing home sales slipped unexpectedly in November and new home sales are also expected to decline marginally MoM, but instead surprised to the upside with a 1.3% MoM.

However, the beat was due to a major downward revision from -0.7% MoM to -2.7% MoM for October.

Year-over-year, new home sales growth slowed to +16.9%.

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