US April new home sales 743K vs 693K expected

• Prior was 724K (revised to 670K)
• Sales monthly change 10.9% vs +7.4% prior (revised to +2.6%)

Rising long-term yields and borrowing costs aren’t helping the housing market. Shares of home builders have struggled badly this year.

This is a surprising number but it looks like some sales have simply been shifted by a month as the March number was revised far lower.

This article was written by Adam Button at www.forexlive.com.