April US new home sales 569K vs 610K expected

Miss on new home sales

• Prior sales 621K (revised to 642K)
• Supply at 5.7 months vs 4.9 in March
• Single family sales 0.569 million pace vs 0.610 m expected
• Prior single family sales pace 0.642m
• Single family sales -11.4% vs +5.8% in March
• Median sale price $309,200 vs $321,300 prior
• Homes for sale 0.268m vs 0.264m prior

This is a terrible report that hit out of nowhere. For the moment, you have to set it aside as an outlier in what looks like a strengthening housing market but it's a big disappointment.