October 2017 US new home sales 27 November 2017
- Prior 0.667m. Revised to 0.645m
- Supply 4.9 months vs 5.2 month prior
- Median sale price $312,800 vs $302,800 in Oct 2016
The 3.3% jump in prices from last year shows there’s nothing bubbly in this housing number. What is worth watching is the supply numbers as that could signal tightening of inventories and bring about higher prices. We saw a similar story in the existing sales report last week.
USDJPY has ticked up a touch further to 111.19.