US: New Home Sales rise by 1% in July vs. -2.7% expected

• New Home Sales in the US rose modestly in July.
• US Dollar Index stays below 93.00 after the data.

New Home Sales in the US increased by 1% on a monthly basis in July to a seasonally adjusted annual rate of 708,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Tuesday. This reading followed June's contraction of 2.6% and came in better than the market expectation for a decline of 2.7%.

"The median sales price of new houses sold in July 2021 was $390,500.  The average sales price was $446,000," the publication further read.

Market reaction

This report received little to no market reaction and the US Dollar Index was last seen posting small daily losses at 92.93.