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May New Home Sales Well Below-Expected 626k.>

US DATA
US DATA: May New Home Sales Well Below-Expected 626k SAAR
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- May new home sales -7.8% to 626k SAAR vs expected 685k BBG, 682k MNI 
- April sales rev up to 679k SAAR from 673k, March rev to 705k (723k) 
- Median home prices -8.1% to $308,000, -2.7% y/y
- April-May average sales 653k below the 672k Q1 average
- May sales breakdown: NE -17.6%, MW +6.3%, South +4.9%, West -35.9%
- Supply of new homes for sale +0.3% to 333k, +10.3% y/y.  
- Months supply on the market jumped to 6.4 months vs 5.9 months in April

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