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 ?
A poll of economists by the (https://www.ibtimes.com/us-economic-calendar-week-april-22-2019-2786976) International Business Times  had forecast a consensus estimate of a 3.5 percent drop in existing home sales.  Existing home sales comprise some 90 percent of U.S.
Indiana is on pace for more than 89,000 existing home sales in 2018.
December sales fell in all four regions, led by a 7.5 percent drop in the Northeast and a 6.3% decline in the Midwest At the current pace, it would take 3.2 months to sell all available homes on the market, a record low in data going back to 1999; Realtors group considers less than five months' supply consistent with a tight market Single-family home sales fell 2.6% to annual rate of 4.96 million Purchases of condominium and co-op units dropped 11.6% to a 610,000 pace Existing home sales account for 90% of the market and are calculated when a contract closes.
Existing home sales are at levels of the late 1990s, and single-family building permits and starts are about equal to those of the early 1990s.
US: Existing home sales The pending home sales index fell 4.3% in December.
Nationally, the fraction of existing home sales that were distressed over the past year is around 35 percent.
The association's home sales numbers include both new and existing home sales.
The coastal market had 5,101 existing home sales in the first quarter of this year, the highest total in five years, according to the report.
In April 2010 existing home sales soared as home buyers scrambled to claim the tax credit that expired April 30, according to a report by the National Association of REALTORS[R] (NAR).
More generally, August reports show that the recent trends of strong increases in new and existing home sales and durable goods orders were interrupted in August.
US existing home sales and prices have fallen at a record pace in November, while other data have confirmed the US economy shrank by 0.5 per cent in the third quarter.
However, little research has been performed to observe the differentials across housing sub-markets, such as new home construction and existing home sales. Findings regarding these differentials across the two sub-markets will provide valuable insights for both economic policy makers and housing market agents.