US: Existing Home Sales decline by 7.7% in November vs. 0% expected

• Existing Home Sales in the US fell sharply in November.
• US Dollar Index clings to small daily gains slightly above 104.00.

Existing Home Sales in the US declined by 7.7% in November to a seasonally adjusted annual rate of 4.09 million, the National Association of Realtors (NAR) reported on Wednesday. This reading came in much worse than the market expectation for a no-change.

"The median existing-home sales price rose to $370,700, an increase of 3.5% from one year ago," the NAR further noted in its publication.

Market reaction

This report doesn't seem to be having a significant impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was up 0.15% on the day at 104.12.