Bond Market Update
Updated: 23-May-25 10:19 ET
New home sales in April surprise on the upside
Data Recon
- New home sales surged 10.9% month-over-month in April to a seasonally adjusted annual rate of 743,000 units (Briefing.com consensus 679,000) from a downwardly revised 670,000 (from 724,000) in March. On a year-over-year basis, new home sales were up 3.3%.
- The key takeaway from the report is that new home sales in April were bolstered by a decline in the median sales price; however, the excitement surrounding the headline beat was muted by the sharp downward revision to new home sales for March. Taking that revision into account, there wasn't a great deal of change in the March-April period compared to what economists knew and expected going into the April report.
- Yield check:
- 2-yr: -3 bps to 3.97%
- 3-yr: -4 bps to 3.94%
- 5-yr: -4 bps to 4.07%
- 10-yr: -3 bps to 4.52%
- 30-yr: -2 bps to 5.04%