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Mar new home sales +4.0% to 694k SAAR, well.>

US DATA
US DATA: Mar new home sales +4.0% to 694k SAAR, well above 630k exp. 
The upward surprise in the print, is desceptively strong as both Feb and 
Jan were rev up significantly. 
-Sales dropped 54.8% in the Northeast, to its lowest level since Apr 
2015. Sales -2.4% in the Midwest, but +0.8% in the South and +28.3% in 
the West. 
-The supply of new homes for sale was unch at 301k, but was +13.2% y/y.  
-As a result of the rise in sales and the flat reading in new homes for 
sale, the months supply on market dipped to 5.2 months from 5.4 months 
in Feb. 
-The median new home sales price +3.5% to $337,200, and +4.8% y/y.  
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