US new home sales 0.679M versus 0.723M estimate

<figure data-media-><img src="https://images.forexlive.com/images/New%20residential%20sales_id_1805342d-6660-4ccc-8c60-bc885fd57aeb_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/New%20residential%20sales_id_1805342d-6660-4ccc-8c60-bc885fd57aeb_original.jpg" /><figcaption><div>New home sales in the US</div></figcaption></figure><p><br></p><ul><li>Prior month 0.719M&nbsp;revised from 0.759M previously reported</li><li>New home sales -5.6%&nbsp;</li><li>US homes for sale at the end of October 0.439 million units versus 0.433 million units in September<br></li><li>New home sales supply 7.8 months in October from 7.2 months in September</li><li>Median sale price $409,300 which is down -17.6% from October 2022</li><li>average sale price of $487,000 versus $543,300 from October 2022<br></li></ul><p>Regionally </p><ul><li>Northeast -13.2%</li><li>Midwest -16.4%</li><li>South +2.1%</li><li>West -23.3%<br></li></ul><p>Yields move lower after the report with the </p><ul><li>2 year at 4.924% -3.6 basis points. </li><li>10-year is at 4.433% down -5.1 basis points.<br></li></ul><p>Major US stock indices are mixed:</p><ul><li>Dow industrial average -50 points or -0.14% of 35339</li><li>S&amp;P index -5.61 points or -0.12% at 4553.30</li><li>NASDAQ index unchanged at 14250.37<br></li><br></ul>

This article was written by Greg Michalowski at www.forexlive.com.