US DATA: Aug new home sales -0.3% to 373k SAAR vs 380k expected and
following upward revisions in the prev two months. In Aug, sales rose in
3 of the 4 regions, but fell 4.9% in the large South region. Supply of
new homes flat at 141k. Due to the very modest change in sales and flat
reading for supply, the months supply was unch at 4.5 months, still
below 6.6 months yr ago. The median new home sales price +11.2% m/m to
$256,900, +17.0% yr/yr and the highest median price since March 2007.
The average sales price was $295,300, the highest since July 2008. Aug
housing starts, existing home sales, and the NAHB reading for September
all pointed to improvement in the housing market.