US: New Home Sales surge by 14% in September vs. 1.5% expected

Following a contraction of 1.4% in August, New Home Sales in the US surged by 14% in September, the data published by the US Commerce Department showed on Tuesday. This reading surpassed the market expectation for an increase of 1.5% by a wide margin.

Further details of the publication revealed that the median sale price rose by 18.7% on a yearly basis to $408,000.

Market reaction

The dollar stays resilient against its major rivals after this report. As of writing, the US Dollar Index was up 0.05% on a daily basis at 93.87.