US: New Home Sales decline by 3.5% in September vs. +2.8% expected

New Home Sales in the US declined sharply in September.
US Dollar Index clings to daily gains near 93.00 after the data.

Eren Sengezer FXStreet

New Home Sales in the US declined by 3.5% in September to a seasonally adjusted annual rate of 959,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Monday.

This reading followed August's increase of 3% (revised from 4.8%) and came in worse than the market expectation of +2.8%.

"The median sales price of new houses sold in September 2020 was $326,800," the publication further read. "The average sales price was $405,400."

Market reaction

Market participants largely ignored this report and the US Dollar Index was last seen gaining 0.3% on the day at 93.02.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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