"Gold Prices Surge as US New Home Sales Hit 2-1/2 Year Low"
TL;DR
Sales of new U.S. single-family homes fell 0.3% in February, with the median new home price dropping 7.6% from a year ago, marking the lowest in over 2-1/2 years. The housing market remains strong amid a shortage of previously owned houses, with builders offering price cuts and incentives to make housing more affordable. Despite a rise in mortgage rates, new home sales are up 5.9% year-on-year, and the overall housing market is showing signs of improvement, although supply remains inadequate, keeping house prices elevated.
- US new home sales fall; median price lowest in more than 2-1/2 years Reuters
- US new home sales unexpectedly fall in February Yahoo Finance
- Sales of new homes inched down in February MarketWatch
- Gold price trading near session highs as U.S. new home sales fall 0.3% in February KITCO
- Stocks surge after Fed indicates three rate cuts still coming this year CNN
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