US March new home sales 694K vs 630K expected

New home sales for March 2018

• Prior was 618K
• Single family sales 694K vs 630K expected and 667K prior
• Northeast -54.8%
• Midwest -2.4%
• South +0.8%
• West +28.3%

Very strong reading.

At the
Ira Sohn conference yesterday, John Khoury, founder and managing partner of the $2.7 billion Long Pond Capital hedge fund
made a good pitch for investing in US housing. HE picked home builder D.R. Horton as his stock pick and said the entry-level segment would be especially solid in the years ahead.