US: New Home Sales rise by 10.7% in May
|- New Home Sales in the US rebounded sharply in May.
- Wall Street's main indexes continue to push higher after the data.
The data published by the US Census Bureau showed on Friday that New Home Sales in the US rose by 10.7% in May to 696,000 following April's contraction of 12% (revised from -16.6%).
"The median sales price of new houses sold in May 2022 was $449,000," the press release further read. "The average sales price was $511,400."
Market reaction
Risk flows continue to dominate the markets after this report. As of writing the Dow Jones Industrial Average and the S&P 500 indexes were up 1.9% and 2.2%, respectively.
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