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23 Apr 2015
US New Home sales tank 11.4% in March
FXStreet (Mumbai) - The official data released in the US on Thursday showed new home sales fell 11.4% to 481K, compared to the prediction of a 4.5% fall to 514K.
The surprisingly weak new home sales data comes a day after the release of existing home sales and the FHFA's home price index, both rose more than expected.
Last month’s drop had been the biggest since July 2013. The Commerce Department revised the February reading up to 543,000, the highest since February 2008. Figures for December and January were also stronger than previously estimated.
The surprisingly weak new home sales data comes a day after the release of existing home sales and the FHFA's home price index, both rose more than expected.
Last month’s drop had been the biggest since July 2013. The Commerce Department revised the February reading up to 543,000, the highest since February 2008. Figures for December and January were also stronger than previously estimated.