US Existing Home Sales Rise, Yet Miss Forecasts
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U.S. existing home sales rose slightly to 4.13 million annualized, missing the forecast of 4.20 million. This indicates softer-than-expected housing demand, easing pressure on home prices and inflation. The data may support rate-sensitive sectors like growth stocks and REITs, but homebuilder stocks might underperform due to the fragile resale market.
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