US DATA: June new home sales -1.0% to 312k SAAR, below the 320k rate
expected and following downward revisions to the previous two months.
Still, sales were up from a year ago. Sales continued to fall in the
Northeast, hitting another record low, and were also down in the West,
but were up in the Midwest and the large South region. The supply of new
homes for sale -1.8% to a record low 164k. As a result, the months
supply fell to 6.3 months at the current sales pace, well below the 8.2
months supply a year ago and the lowest level since April 2010. The
median sales price +5.8% to $235,200 in June, +7.2% y/y.