Existing Home Sales

Existing Home Sales is a measure of the selling rate of pre-owned single-family homes, collected by the National Association of Realtors from 650 realtor associations. It includes a geographical breakdown, as well as a measure of prices and house inventory, the number of months it would take to deplete the existing supply of pre-owned houses at the current sales pace. The data is timely and is used in conjunction with the new home sales release from the Census Bureau. Sales of existing (or pre-owned) houses account for roughly 84% of all houses sold. Sales of new houses account for the other 16%. Simply, the volume of sales indicates housing demand. Also, the monthly supply of homes serves as an input into the level of housing pressure. However, when analyzing sales trends, one must remember to take into account unusual weather and seasonal effects. This report sometimes moves markets and is considered a good gauge of near-term spending for housing related items and of consumer spending in general. The Existing Home Sales report is scheduled for release at 9:00 (CST) on the 25th of every month (or on the first business day thereafter) by the National Association of Realtors.

POTENTIAL IMPACT ON INTEREST RATES: MODERATE