Existing Home Sales


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Existing Home Sales

A measure of the number and price of sales of single-family homes other than new constructions. It is considered an economic indicator of the availability and affordability of mortgages and real estate in the United States. It is also considered a lagging indicator as it tends to react after changes in mortgage interest rates. Existing home sales tend to rise after a decline in mortgage rates and fall when the opposite happens. The U.S. National Association of Realtors publishes existing home sales monthly.
References in periodicals archive ?
Earlier this month, the National Association of Realtors (NAR) released its existing home sales data for October, reporting a 3.
Total existing home sales include single-family homes, town houses, condos and co-operative housing.
This paper will study the effects of changing monetary policies on the housing market by observing the response differentials between new home construction and existing home sales (two housing sub-markets) to interest rate changes.
For the year, existing home sales are projected to increase 7.
In addition, the housing market correction, where new home sales and existing home sales are forecasted to decrease approximately 19% and 8.
The National Association of Realtors reported existing home sales grew 2.
1 percent decline in existing home sales in March compared to March last year.
Combined, the data on existing home sales, housing starts and mortgage applications shows the housing market remains strong.
The California Association of Realtors report, generated in conjunction with Real Estate Solutions, covered both new and existing home sales and condominium sales, comparing prices in July, August and September with prices in the same months in 1999.
Three of the most important releases are housing starts, new home sales and existing home sales.
The headlines say that existing home sales were down 1.