| Definition:
|
Also known as home resales, this economic indicator tracks the number of existing homes sold during the previous month. Sales volume, median and average sales prices are computed nationally and regionally. The National Association of Realtors compiles the data from over 650 Boards/Associations of Realtors and MLS (multiple listing services) listings across the nation and is published in The Real Estate Outlook. Some economists believe this report to be more significant than new home sales because of the sample size.
|
| Meaning:
|
Demand for housing correlates with economic trends. For instance, a robust housing market means strong economic activity, because home resales affects consumer purchases of furnishings and/or appliances. If home resales are weak that usually indicates dwindling economic activity.
|
| Weight:
|
***
|
| Source:
|
National Association of Realtors
|
| Availability:
|
Report released 3-4 weeks following the reference month
|
| Frequency:
|
Monthly
|
| Coverage:
|
1 Month Lag Factor (Data for May is released in June)
|
| Volatility:
|
Moderate
|
Impact on the Markets:
|
| Interest Rates:
|
Existing Home Sales  =
Interest Rates
Existing Home Sales  = Interest Rates
|
| Fixed-income:
|
Existing Home Sales =
Bond Market
Existing Home Sales = Bond Market
|
| Equities:
|
Existing Home Sales =
Stock Market
Existing Home Sales = Stock Market
|
| Dollar:
|
Existing Home Sales = No Reaction
Existing Home Sales = No Reaction
|
| More Information:
|
National Association of Realtors
|
