US DATA: Jan new home sales -12.6% to 284k SAAR, below the 305k rate
expected and following small revisions to the previous two month. Sales
were up in the NE and MW, but down in the South and West. The supply of
new homes for sale -0.5% to 188k, low since Dec. 1967. As a result of
the sales plunge and the smaller supply decline, the months supply
rebounded to 7.9 months at the current sales pace from 7.0 months in
Dec. The median sales price -1.9% to $230,600 in Jan, +5.7% yr/yr.