FOREX TradingCharts.com

Financial News: U.S. New Home Sales Rebound By 1.0% In

U.S. New Home Sales Rebound By 1.0% In July

08/24/2021 - 10:42:00 (RTTNews)

(RTTNews) - The Commerce Department released a report on Tuesday showing a rebound in U.S. new home sales in the month of July.

The report showed new home sales increased by 1.0 percent to an annual rate of 708,000 in July after slumping by 2.6 percent to an upwardly revised rate of 701,000 in June.

Economists had expected new home sales to jump by 3.6 percent to a rate of 700,000 from the 676,000 originally reported for the previous month.

While new home sales in June were upwardly revised, the annual rate still represented the lowest level since April of last year.

The increase in new home sales came as new home sales in the West skyrocketed by 14.4 percent to an annual rate of 215,000.

New home sales in the South also climbed by 1.3 percent, while new home sales in the Northeast and Midwest plummeted by 24.1 percent and 20.2 percent, respectively.

The Commerce Department also said the median sales price of new houses sold in July was $390,500, up 5.5 percent from $370,200 in June and up 18.4 percent from $329,800 a year ago.

The estimate of new houses for sale at the end of July was 367,000, representing a supply of 6.2 months at the current sales rate.

"While demand for new homes remains strong, high prices and backlogs in construction will temper sales in the months ahead," said Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics.

On Monday, the National Association of Realtors released a separate report showing existing home sales jumped by 2.0 percent to an annual rate of 5.99 million in July.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Singapore Inflation Slows Slightly In August (26 min(s), 53 sec(s) ago)
(RTTNews) - Singapore consumer price inflation moderated slightly in August reflecting lower priva ...Full Story»

European Economics Preview: BoE, SNB Policy Announcements Due (01 hr(s), 39 min(s), 53 sec(s) ago)
(RTTNews) - Monetary policy announcements from the Bank of England and the Swiss National Bank are ...Full Story»

Brazil Central Bank Lifts Key Rate By 100 Bps; Signals Another Hike Next Month (01 hr(s), 39 min(s), 53 sec(s) ago)
(RTTNews) - Brazil's central bank raised its key interest rates by 100 basis points on Wednesd ...Full Story»

Australia Manufacturing PMI Jumps To 57.3 In September - Markit (25 min(s), 07 sec(s) ago)
(RTTNews) - The manufacturing sector in Australia continued to expand in September, and at a faste ...Full Story»

Australia PMI Data On Tap For Thursday (15 min(s), 07 sec(s) ago)
(RTTNews) - Australia will on Thursday release September PMI data from Markit Economics, highlight ...Full Story»

Fed Says Tapering Asset Purchases May Be Warranted 'Soon' (44 min(s), 07 sec(s) ago)
(RTTNews) - Citing progress towards it goals of maximum employment and price stability, the Federa ...Full Story»

Eurozone Consumer Confidence Improves In September (54 min(s), 07 sec(s) ago)
(RTTNews) - Euro area consumer confidence improved in September for the first time in three months ...Full Story»

U.S. Existing Home Sales Pull Back Slightly More Than Expected In August (04 min(s), 07 sec(s) ago)
(RTTNews) - The National Association of Realtors released a report on Wednesday showing a pullback ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Singapore Inflation Slows Slightly In August

09/23/2021 - 01:18 AM (RTTNews)
(RTTNews) - Singapore consumer price inflation moderated slightly in August reflecting lower priva ...Full Story>>

Brazil Central Bank Lifts Key Rate By 100 Bps; Signals Another Hike Next Month

09/23/2021 - 00:05 AM (RTTNews)
(RTTNews) - Brazil's central bank raised its key interest rates by 100 basis points on Wednesd ...Full Story>>

European Economics Preview: BoE, SNB Policy Announcements Due

09/23/2021 - 00:05 AM (RTTNews)
(RTTNews) - Monetary policy announcements from the Bank of England and the Swiss National Bank are ...Full Story>>

Australia Manufacturing PMI Jumps To 57.3 In September - Markit

09/22/2021 - 19:10 PM (RTTNews)
(RTTNews) - The manufacturing sector in Australia continued to expand in September, and at a faste ...Full Story>>

Australia PMI Data On Tap For Thursday

09/22/2021 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release September PMI data from Markit Economics, highlight ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.