January new home sales -6.9% to 607k SAAR,..>

US DATA: January new home sales -6.9% to 607k SAAR, below the 624k 

rate expected by MNI and the 625k Bloomberg consensus. 

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- Dec sales rev up to 652k and Nov sales rev up to 628k. 

- The supply of new homes for sale -1.5% to 336k, and +13.9% y/y. 

- The months supply on market rose to 6.6 months from 6.3 in Dec, up 

from 5.6 months a year ago. 

- The median new home sales price -0.6% to $317,200, -3.8% y/y.

- Sales were down in the Northeast (-11.4%), the South (-15.1%), and 

the Midwest (-28.6%), but up in the West (+27.8%).

- The January sales rate of 607k stands slightly below the 611k average 

for Q4.