US: New Home Sales surge by 13.8% in June vs. 4% expected

New Home Sales in US increased at a stronger pace than expected in June.
US Dollar Index struggles to stage a rebound after the data.

Eren Sengezer FXStreet

New Home Sales in the US rose by 13.8% in June to a seasonally adjusted annual rate of 776,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Friday.

This reading followed May's increase of 19.4% (revised from 16.6%) and beat the market expectation of 4% by a wide margin.

"The median sales price of new houses sold in June 2020 was $329,200. The average sales price was $384,700," the publication further read.

Market reaction

The US Dollar Index paid little to no mind to this report and was last seen losing 0.22% on the day at 94.57.

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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