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New Home Sales missed market forecasts

Monday, Apr 25 2016
Purchases of new homes in the U.S. unexpectedly declined in March for a third month, reflecting the weakest pace of demand in the West since July 2014. Total sales decreased 1.5% to a 511,000 annualized pace, a Commerce Department report showed Monday. The median forecast in a Bloomberg survey was for a gain to 520,000. In western states, demand slumped 23.6%.
Purchases rose in two regions last month, indicating uneven demand at the start of the busiest time of the year for builders and real-estate agents. While new construction has been showing limited upside, cheap borrowing costs and solid hiring will help ensure residential real estate continues to expand.
 
Euro is currently being traded few points above 1.127 level, Sterling is around 1.44 handle, while Aussie is at 0.7710 area.
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