The U.S. Census Bureau released data on new home sales in the United States for the month of March today, Wednesday, revealing positive figures that surpassed market expectations for the first time in two months.
According to the data, new home sales reached approximately 724,000 units in March, which is higher than market forecasts that anticipated around 684,000 units. The previous reading indicated approximately 676,000 units sold in February.
It is worth noting that the new home sales index measures the annual change in the number of newly sold homes in previous months and is considered a leading indicator of economic health. New home sales have significant implications for the economy, as they lead to purchases of furniture and appliances, mortgage sales through financing banks, and payments to agents for facilitating these home transactions.
At the same time, new home sales data in the United States tends to have a substantial impact when released alongside data from the existing home sales index, as both reports are closely interconnected.
