US: New Home Sales in January rose 7.9% vs. 3.5% expected

New Home Sales in US rose more than expected in January.
US Dollar Index clings to daily gains above 99.20 after data.

Eren Sengezer FXStreet

New Home Sales in the US rose 7.9% on a monthly basis in January to 764,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday. This reading followed a 2.3% increase in December and surpassed the market expectation of 3.5% by a wide margin.

"The median sales price of new houses sold in January 2020 was $348,200," the publication further read. "The average sales price was $402,300. "

USD reaction

The US Dollar Index largely ignored this reading and was last up 0.23% on the day at 99.22.

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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