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 ?
At the beginning of the foreclosure crisis, a number of MSAs experienced large increases in the share of existing home sales that were distressed.
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.
The typical leading indicator is new and existing home sales, and we have been encouraged by that picture," Niemira told HFN.
The variables are payroll employment, personal income, population, number of households, existing home sales, existing home prices, housing permits and housing affordability.
US: Existing Home Sales The volume of housing transactions has picked up over the past year.
And existing home sales remain far below the peak level of around 7 million.
But the market soon lost steam with the Dow Jones index slipping into the minus column following the release earlier in the day of a slower-than-expected growth of existing home sales in May.
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.