— This is the script of CNBC's news report for China's CCTV on June 25, Wednesday.
Welcome to the CNBC Business Daily.
Dovish comments from New York Federal reserve bank president, William Dudley.
Speaking overnight, Dudley said the US central bank is in no hurry to raise rates and can easily wait till mid-next year before thinking about tightening policy.
In the meantime, we're seeing more signs of stability for the US economy and the housing sector.
Diana Olick has a breakdown of the latest data.
The new home numbers were good. Perhaps even too good to be true.
[Mark Hanson / Housing Strategist, Mark Hanson Advisers] "You have to take a look at it with suspect goggles on and I think it's just that. New home sales suffers from the law of low number."
Sales of newly built homes surged over 18% from May to June according to a government survey, which has a large margin of error. While the monthly jump was high, the base numbers are very low, down over 60% from their peak in 2005.
[Tom Redwitz / COO, The New Home Co.] "We release our homes in smaller phases so that we can keep up with the sales rate."
Prices for newly built homes surged 7% with the biggest sales gains on the pricer end of the market.
[Tom Redwitz / COO, The New Home Co.] "We're increasing prices just a little bit, but not in leaps and bounds."
Prices for existing homes in April were up nearly 11% from a year ago, a smaller yearly gain than in March. Prices are still well below their peak years ago this month, but some local markets may be in bubble territory.
[Spencer Rascoff / CEO, Zillow] "The reason its so noisy is, its moved from a national real estate story to a very local real estate story. And you have some parts of the country that are appreciating very rapidly, like Manhattan and the bay area, 20+% year after year, and you have other parts of the country like the Mid West that are flat to down."
While some worry about the latest price moves, the most famous home price watcher in unconcerned.
[Robert Shiller / Co-founder, Case-Shiller index] "Prices are more or less ok where they are. They went up way too high in 2006, and they came down like 50%. Now they're going up, they look about right. And I hope people just don't get so worked up about them."
Of course homes today are actually more expensive then they were in 2006. The sticket price may be lower, but we don't have all those no-money down interest only mortgages to foot the bill. Diana Olick, CNBC, Washington.
That wraps up this edition of the Business Daily.
I'm Julia Wood, reporting from CNBC's Asian headquarters.
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