US new home sales 0.632M versus 0.570M estimate | Forexlive

• Prior month new home sales 0.603M revise to 0.588M
• new home sales for October 0.632M versus 0.570M estimate
• new home sales +7.5% in October (MoM)
• supplies at 8.9 months

A better number which may have been incentivized by builders. High mortgage rates and affordability still remain a problem for the US housing market. However supply – especially of existing homes – remains low.