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Sales of new homes dropped in March

Thursday, Apr 23 2015
Sales of new single-family houses in March 2015 were at a seasonally adjusted annual rate of 481,000, below expected rate of 514,000. This is 11.4% below the revised February rate of 543,000, but is 19.4% above the March 2014 estimate of 403,000. The median sales price of new houses sold in March 2015 was $277,400; the average sales price was $343,300. The seasonally adjusted estimate of new houses for sale at the end of March was 213,000.  
 
Earlier today, US Manufacturing PMI showed decline to 54.2 in April, from 55.7 in March. Analysts were expecting no change. Although still comfortably above the 50.0 no-change value, the latest index reading signalled the least marked improvement in overall business conditions since January. April data indicated slower growth momentum for the U.S. manufacturing sector, with production volumes and incoming new work both expanding at weaker rates than in the previous month. 
 
Data did not have any major impact on the markets. Euro is currently being traded few points above 1.0760 level, Sterling is slightly above 1.50 handle, while Aussie is around 0.7740 area.
More in this category: « Unemployment Claims almost unchanged from last week's level Aussie testing 0.78 handle as a resistance »

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