US: New Home Sales rise by 4.8% in August vs. -1% expected

• New Home Sales in the US continued to rise in August.
• US Dollar Index clings to modest daily gains near 94.50 after the data.

New Home Sales in the US increased by 4.8% in August to a seasonally adjusted annual rate of 1,011,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Thursday.

This reading came in better than the market expectation for a decline of 1%.

"The median sales price of new houses sold in August 2020 was $312,800," the press release read. "The average sales price was $369,000."

Market reaction

The US Dollar Index showed no immediate reaction to this data and was last seen gaining 0.15% on the day at 94.48.