US DATA: May new home sales -2.1% to 319k SAAR, above the 305k rate
expected and following upward revisions to the previous two month. Sales
were +13.5% y/y SA, +15.4% NSA. Sales were up in the large South region,
were down in the NE and West regions, and were flat in the MW region.
The supply of new homes for sale -3.5% to a record low 166k. As a
result, the months supply fell to 6.2 months at the current sales pace,
the lowest since April 2010. The median sales price +2.6% to $222,600 in
May, -3.4% y/y.