Ambiguous New Home Sales Suggests Prices Firmed After Drop

The pace of new US home sales was slightly slower than expected last month, data released on Thursday suggested. At 640,000, the annual rate trailed the 650,000 consensus, but not by enough to matter. The print was basically in line. More notable, perhaps, was the downward revision to January's headline, which now shows a 633,000 pace compared to the originally reported 670,000 rate. Figures for both December and November were adjusted slightly lower. Following the revisions, January's MoM in