A cooling housing market may put buyers in the driver’s seat while a better job market could give workers and job seekers more leverage, economists say.

Either way, analysts read a pair of economic reports Thursday as indicating a soft landing for the high-flying housing sector and a smoother ride for the labor market.

Sales of previously owned homes fell for the second month in a row, declining a moderate 1.7 percent in November to an annual rate of 6.97 million units.

A Labor Department report showed that new applications filed for unemployment insurance last week edged up to 322,000 – a level that remains consistent with a labor market revival, economists said.