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New Home Sales at an annual rate of 438,000

Tuesday, Dec 23 2014
Sales of new single-family houses in November 2014 were at a seasonally adjusted annual rate of 438,000, missing expectations on a rate of 461,000.  This is 1.6% below the revised October rate of 445,000 and is 1.6% below the November 2013 estimate of 445,000. The median sales price of new houses sold in November 2014 was $280,900; the average sales price was $321,800. The seasonally adjusted estimate of new houses for sale at the end of November was 213,000.  This represents a supply of 5.8 months at the current sales rate.
 
However, support for USD came from Revised Consumer Sentiment data which showed figures in line with market forecasts. U.S. consumer sentiment jumped in December to its highest level in nearly eight years on cheaper gasoline and better job and wage prospects. Final December reading on the overall index on consumer sentiment came in at 93.6, its best showing on a final basis since January 2007 and the latest in a string of increases since August.
 
USD remains broadly higher against its major rivals. Euro is currently being traded slightly below 1.2180 level,  Sterling is around 1.55 handle, while Aussie is few points above 0.81 handle. 
More in this category: « US Final GDP data showed 5% growth in Q3 Aussie almost unchanged in a tighter range morning trading »

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