US new home sales rise but remain sluggish in November

US new home sales summed up to 490k in the month of November, below the market consensus expectations. The previous month's sales data was revised lower by a net 39k.

Single family sales rose in the West, with sales in the latter area gradually recovering from recent weakness induced by weather. There was a bit softening in the Northeast and midwest sales in November.

"Unit sales, average selling prices and the deflator for single family homes under construction all left our Q4 GDP tracking estimate unchanged at 1.5%", says Barclays in a research note.