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U.S. new home sales rise more-than-expected in April

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Forex Pros - U.S. new home sales rose more-than-expected in April, increasing for the second consecutive month, official data showed on Tuesday.

In a report, the U.S. Census Bureau said new home sales rose by 7.3% to a seasonally adjusted 323,000 units in April, up from 301,000 units in March, whose figure was upwardly revised from 300,000 units.

Analysts had expected the number of new home sales to rise to 305,000 units.

The average new home sales price rose to USD217,900 in April from USD214,500 in March.

Despite the gain, the real-estate market remains a weak link in the U.S. economic recovery. In February, purchases sank to 270,000 units, the weakest in 48 years of data.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.38% to hit 1.4102.

Meanwhile, U.S. equity markets were up after the open. The Dow Jones Industrial Average added 0.15%, the S&P 500 index advanced 0.25%, while the Nasdaq Composite index eased up 0.05%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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