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US: New Home Sales retreat below expectations

Mohamed Abdelhamid 27 November, 2023 7:42 pm Forex Market, Market Update

New Home Sales in the US declined 5.6% in October. US Dollar Index continues to hover around 103.40 after the data.

Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly on Monday by the US Census Bureau and the Department of Housing and Urban Development.

The number represents a decline of 5.6% from the September revised rate of 719,000 is below market consensus of 725,000.

The median sales price of new houses sold in October 2023 was $409,300 and the average sales price was $487,000, the publication revealed. The US Dollar Index (DXY) remained around 103.40, marginally lower for the day.

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