Home Markets US: New Home Sales Increase 7.5% in October vs. -3.8% Expected

US: New Home Sales Increase 7.5% in October vs. -3.8% Expected

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US: New Home Sales Increase 7.5% in October vs. -3.8% Expected
  • New home sales in the United States rose unexpectedly in October.
  • The Dollar Index remains in negative territory around 106.50.

New single-family home sales increased 7.5% in Octoberup to a seasonally adjusted annual rate of 632,000, data released jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday.

This reading followed the 11% contraction in September and was much better than the market expectation of a 3.8% decline.

market reaction

These data did not help demand for the dollar, which came under strong selling pressure following disappointing PMI numbers. At time of writing, the Dollar Index is down 0.55% on the day, settling at 106.55.

Source: Fx Street

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