U.S New Home Sales 343K, HPI at 1.8% - 23.5.2012

The New Homes sold in April increased to 343,000 from the March revised figure at 332,000 as the U.S Commerce Department reported today. Market participants were expecting New Home Sales to be 335,000 but it came to be better than expected, even though the House Price Index increased by 1.8 per cent. The housing market shows a steady recovery in the last year as the borrowing costs are at record lows, the labor market is improving and the consumer confidence is strengthening. US dollar index is moving upwards and is at the 81.85 level close to its highest level since September 2010.