New sales of single family homes fell 10.2% in January to an annual rate of 309,000. The bright side? Sales in December only fell at a 9.5% rate, revised from -14.7% previously.
Inventories hit a record high as the few buyers there are are buying foreclosures at pennies on the dollar.
USD/JPY is rising back toward 98.00 with equities holding early gains.
