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US CB Consumer Confidence and New Home Sales Down, Durable Goods Orders Up

The Conference Board, an economic research firm, announced that its consumer confidence index fell to 107.3 in April from 107.6 in March.

Meanwhile, the S&P CoreLogic Case-Shiller survey showed that the U.S. house price index rebounded in February.

The nationwide home price index in the United States jumped 19.8% in February from 19.1% in January, while the home price index in 20 U.S. cities rose 20.2% after rising 18.9% in January.

Home prices rose the most in Phoenix, Tampa and Miami and continued to be supported by homebuyer demand and tight housing inventories. And this came at a time when mortgage rates have started to rise again.

In addition, the US Department of Commerce reported that new home sales plummeted 8.6% to 763,000 units in March from 835,000 units in February. Year-over-year, new home sales plummeted 12.6% in March.

New home sales have been hit by soaring home prices and a rebound in mortgage interest rates.

The median new home price jumped 21.4% to $436,700 in March. New home stocks rose to 407,000 units.

Meanwhile, US new orders for durable goods, such as aircraft, automobiles and large machinery three years old or older, rose 0.8% in March after declining 1.7% in February. Driven by orders for autos.

New orders for durable goods, which are orders for capital goods excluding aircraft and weapons, rose 1.0% in March after falling 0.3% in February.

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