Consumer confidence tops expectations for the month of June. U.S. new home sales rise in the month of May. Yahoo Finance Live breaks down the data.

Video Transcript

JULIE HYMAN: Well, we've got breaking economic data coming down the pike in just moments. New home sales, where we have seen strength, as well as consumer confidence.

And let's start with consumer confidence coming in stronger than estimated 109.7. This is for the month of June. And it's from the Conference Board. 104 is what economists have been estimating. And 102.3 was the reading the prior month.

The present situation ticking up to 155.3. Expectations going to 79.3%. So both of those measures improving here, which is interesting. New home sales, meantime, rising 12.2% month-over-month in May to an annual pace of 763,000.

So indeed, seeing the strength there. One of the themes that we have talked about in the housing market is that with the tight supply in existing homes, because homeowners don't want to put their homes up for sale and buy another home in a high mortgage market that we are seeing construction really pick up. And so that inventory increase. And that might be fueling some of this new home sales action.

But we're going to talk much more about all of this in just a few moments about the mortgage market. Also, about some new pricing data that we got in housing. So that's coming up in just a few.

BRAD SMITH: That's right.