Investing.com - U.S. new home sales rose more-than-expected in May, hitting the highest level since July 2008, official data showed on Tuesday.
In a report, the U.S. Census Bureau said new home sales rose by 2.1% to a seasonally adjusted 476,000 units in May, beating expectations for an increase of 1.3% to 462,000.
New home sales for April were revised up to 466,000 units from a previously reported increase of 454,000 units.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3090.
Meanwhile, U.S. equity markets held on to gains. The Dow Jones Industrial Average rose 0.5%, the S&P 500 index tacked on 0.5%, while the Nasdaq Composite index was up 0.5%.
In a report, the U.S. Census Bureau said new home sales rose by 2.1% to a seasonally adjusted 476,000 units in May, beating expectations for an increase of 1.3% to 462,000.
New home sales for April were revised up to 466,000 units from a previously reported increase of 454,000 units.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.23% to trade at 1.3090.
Meanwhile, U.S. equity markets held on to gains. The Dow Jones Industrial Average rose 0.5%, the S&P 500 index tacked on 0.5%, while the Nasdaq Composite index was up 0.5%.