Forex Top Team

Unexpected weakness in sales of new homes in the US, the lowest level since April 2020

The number of new homes sold in the US in June was announced at 23:00 JST, which was much lower than expected at 676,000 on an annualized basis, the lowest level since April 2020. Inventories have recovered to 6.1 months, indicating a pause in the US housing market. It has been shown that US housing prices have risen and demand has weakened due to tight supply and demand and soaring raw material prices.

However, some pressure may ease in the coming months, as timber prices have fallen sharply from their recent peak. The Biden administration recently held a meeting with representatives of the housing construction industry to address housing shortages and ease the pressures that have spurred rising prices.

With this, there is a big sale in the US dollar, but I do not think that this trend will continue, so I would like to buy in the US dollar when it is calm.

However, this seems to be after tomorrow.

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