U.S. pending home sales data came in slightly better than expected in November. The year-over-year print hit -0.3%, beating the previous -0.4% and surpassing estimates of 0.1% growth.

What does this mean? Housing data often signals underlying economic strength and can shift expectations around monetary policy. A weaker housing market historically puts pressure on the U.S. dollar and could influence capital flows into alternative assets like crypto. While the data missed the bullish forecast, the sequential improvement versus October suggests stabilization rather than continued deterioration.

For traders, this is one datapoint to watch alongside employment figures and inflation metrics—all key ingredients in the macro narrative shaping crypto volatility.