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New Home Sales
? Source: The Census Bureau of the Department of
Commerce.
? Release Time: 10:00 ET around the last business day
of the month (data for month prior).
The index remarks on the level of new privately owned one-family houses processed and sold and houses for sale. New home sales usually have a reaction, which is lagged according to changing mortgage rates. They also have a tendency to be stronger early in the economic cycle when pent-up demand is strong, and they become less strong later in the economic cycle as the demand for housing is oversaturated. Along with total home sales, the market covers the number of homes for sale as a ratio to the current sales pace. As this inventory measure falls or rises, housing starts tend to rise or fall, respectively. Also, the median home price indicates concerning inflation in the housing sector, though only year to year ratio changes provide any meaningful information.
This home
sales report is quite changeable and under large revisions, making just one month's
reading very unreliable, thereby the report rarely prompts a market reaction.
|
JAN |
FEB |
MAR |
APR |
MAY |
JUNE |
JULY |
AUG |
SEPT |
OCT |
NOV |
DEC | |
| 2007 | 937K | 836K | 858K | 981K | 915K |