September new home sales -5.5% to 553k well.>

US DATA: September new home sales -5.5% to 553k SAAR, well below the 

625k rate exp. August sales were revised down to 585k and July sales 

were revised down to 603k. The Q3 average, at a 580k rate, stands below 

the 633k average for Q2. 

-Sales were up in the Midwest (+6.9%), but down in the Northeast 

(-40.6%), the South (-1.5%), and the West (-12.0%). 

-The supply of new homes for sale +2.8% to 327k, up 16.8% y/y. As a 

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

7.1 months from 6.5 months in August, and was up from 5.3 months a year 

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

-The median new home sales price +0.3% to $320,000, -3.5% year over 

year.