U.S. New Home Sales fall in December. - Forex & Currency Trading Blog

January 28, 2008 - Forex Economic News

U.S. New Home Sales fall in December.

New Home Sales in the United States declined in the month of December according to data released by the Department of Commerce today. Purchases of new single family homes fell to an annual rate of 604,000 in December, a 4.7 percent drop from November's rate of 634,000 and the second straight month of decline. December's annual rate of new homes sold was 40.7 percent lower than the that of December 2006 and was below market forecasts of an annual rate of 645,000 new sales. The median sales price of new homes in Dec. 07 was $219,200 down from $244,700 in December 2006 while the average sales price was $267,300 down from $301,900 in December 2006. Overall for the year 2007, the median sales price was $246,900, just slightly ahead of the full year 2006 median price of $246,500. The average sales price for all of 2007 was $311,600, higher than 2006 average sales price of $305,900. The USD fell against most major currencies after the release. Forex trading rates in early US session trading are: EUR/USD - 1.4795. USD/JPY - 106.79. USD/CHF - 1.0879. GBPUSD - 1.9885.

Tags: Department of Commerce, New Home Sales, eur/usd, usd/jpy, usd/chf, gbp/usd ----------------------------------------------------------------------------- Blog index