Sales of new homes in the United States exceeded expectations in March, with 693,000 new homes sold according to the Department of Commerce. This surge in sales can be attributed to a lack of available used homes and apartments on the market. However, the recent increase in interest rates poses a threat to this progress.
On Tuesday, April 23, the dollar started at $3,910.00, a slight drop from the previous close of $3,915.00. By the end of the session, the currency had decreased further to $3,907.25, marking a 0.19% or $7.75 decrease compared to the previous day. The dollar reached a high of $3,933.00 and a low of $3,898.40 during the session.
The average price of the dollar, which determines the Representative Market Rate, will be above $3,900 at $3,909.92. This is $14.9 or 0.37% lower than the TRM of $3,924.82 on Tuesday.
The median price for new homes rose to $430,700, while the average price reached $524,800. This signifies a continuing trend of rising prices in the housing market.
Overall, the increase in new home sales is a positive sign for the housing market, but the potential impact of rising interest rates remains a concern for future growth.