U.S. New Home Sales Pull Back Much More Than Expected In April

U.S. new home sales fell in April by more than expected, reversing a sharp increase seen in the prior month. The report is a mildly negative read-through for housing demand and the broader U.S. economic data backdrop, though it is unlikely to be market-moving on its own.

Analysis

U.S. new home sales fell in April by more than expected, reversing a sharp increase seen in the prior month. The report is a mildly negative read-through for housing demand and the broader U.S. economic data backdrop, though it is unlikely to be market-moving on its own.