June new home sales -5.3% to 631k SAAR, the.>

US DATA: June new home sales -5.3% to 631k SAAR, below the 669k rate 

exp. Both April and May sales were revised lower. Q2 sales, at a 646k 

average rate, stand below the 656k average for Q1. 

-Sales were up in the Northeast (+36.8%), but down in all other regions, 

the Midwest having the largest decline(-13.4%). 

-The supply of new homes for sale +1.7% to 301k, up 10.3% y/y. As a 

result of the decrease in sales, the months supply on market 

rose to 5.7 months from 5.3 months in May and 5.3 months a year ago, 

but the supply remains adequate to meet demand.

-The median new home sales price -2.5% to $302,100, -4.2% y/y and the 

lowest since February 2017, while prices for existing home sales posted 

another record high in June based on Monday's report.