US June new home sales 697K vs 725K expected

<ul><li>Prior was 763K (revised to 715K)</li><li>Single family sales -2.5% vs +12.2% prior</li><li>Median sale price $415.4K vs $416.3K a year ago</li><li>Supply months 7.4 vs 6.7 months prior</li></ul><p>Earlier today, the US reported June building permits at 1.441m vs 1.440m prior.</p><p>This is a disappointing number coupled with a large revision lower. Home builders have been optimistic in reports so far this year but perhaps the latest data was over-cooked.</p>

This article was written by Adam Button at www.forexlive.com.