May data on new US home sales
- Prior was 569K (revised to 593K)
- Sales up 2.9% m/m
- Single family +2.9% vs -7.1% prior
- Supply at 5.3 months vs 5.3 prior
- Median price $345,800 vs $296,000 in May 2016 (+16.8%)
The strong number and revisions points to demand for housing.
