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.

Eren Sengezer FXStreet

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.

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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