August new home sales +3.5% to 629k SAAR,...>

US DATA: August new home sales +3.5% to 629k SAAR, slightly below the 

630k rate exp. July sales were revised down to 608k while June sales 

were revised down to 618k. August sales, at a 629k rate, stand below the 

635k average for Q2. 

-Sales were up in the Northeast (47.8%), the Midwest (2.7%), and the 

West (9.1%), but down in the South (1.7%). 

-The supply of new homes for sale +1.6% to 318k (highest since February 

2009), up 13.2% y/y. As a result of the increase in sales, the months 

supply on market fell to 6.1 months from 6.2 months in July, but was up 

from 6.0 months a year ago, showing that the supply remains adequate 

to meet demand. 

-The median new home sales price -2.4% to $320,200, +1.9% year over year.