US: New Home Sales decline by 18.2% in February vs. -6.5% expected

• New Home Sales in the US fell sharply in February.
• US Dollar Index posts strong daily gains around 92.20 after the data.

New Home Sales in the US fell by 18.2% in February to a seasonally adjusted annual rate of 775,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Tuesday. This reading followed January's increase of 3.2% and missed the market expectation for a decline of 6.5% by a wide margin.

"The median sales price of new houses sold in February 2021 was $349,400," the publication read. "The average sales price was $416,000."

Market reaction

The US Dollar Index edged modestly higher after this report and was last seen gaining 0.52% on the day at 92.22.