New Home Sales

Name: New Home Sales
Start: 2024-10-25
End: 2024-10-25
Location: United States

Local Time:

Oct 24 2024 |

10:00 am - 10:30 am

Location: United States
Currency: USD

This event starts in:

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New Home Sales reflect a dollar value of sales of newly constructed residences in the United states in the given month. The value measures new single-family home sales. Apartment buildings are excluded from the calculation. Also, houses built by land owners and houses built for leasing are not included.

Data provided by the US National Association of Realtors is used for indicator calculation.

The Census Bureau determines a new home sale as accepting a deposit or signing a contract, while the house can be at any stage of construction, in some cases even before the issuance of a building permit. The period between the contract conclusion and transaction end can last an average of 60 days. Very often, such a transaction is accompanied by a mortgage loan.

New Home Sales are considered to be a leading indicator compared to existing home sales.

Economists use the indicator to evaluate the state of the housing market. The growth in new housing sales indicates an expansion of the real estate market and the growth of the national economic activity. Owners of financial organizations use the indicator to predict near-term mortgage loan volumes.

The indicator growth can have a positive effect on dollar quotes.

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