US: New Home Sales tumbled to 679K in October vs. 725K expected

• New Home Sales in the US declined 5.6% in October.
• US Dollar Index continues to hover around 103.40 after the data. 

Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly on Monday by the US Census Bureau and the Department of Housing and Urban Development.  The number represents a decline of 5.6% from the September revised rate of 719,000 ans is below market consensus of 725,000. 

The median sales price of new houses sold in October 2023 was $409,300 and the average sales price was $487,000, the publication revealed. 

Market reaction

The US Dollar Index (DXY) remained around 103.40, marginally lower for the the day.