July new home sales -1.7% to 627k SAAR, the.>

US DATA: July new home sales -1.7% to 627k SAAR, below the 649k rate 

exp. June sales were revised up to 638k while May sales were revised 

down to 654k. July sales, at a 627k rate, stand below the 642k average 

for Q2. 

-Sales were down in the Northeast (-52.3%) and South (-3.3%) and up in 

the Midwest (+9.9%) and West (+10.9%). 

-The supply of new homes for sale +2.0% to 309k (highest since March 

2009), up 12.0% y/y. As a result of the decrease in sales, the months 

supply on market rose to 5.9 months from 5.7 months in June and 6.0 

months a year ago, showing that the supply remains adequate to meet demand. 

-The median new home sales price +6.0% to $328,700, +1.8% year over year.