Existing Home Sales m/m reflect changes in the number of secondary housing sales for the given month compared to the previous one. The calculation includes only closed transactions for sale of existing single-family houses, apartments, condos and cooperatives.
The report is published by the US National Association of Realtors. The detailed version features both absolute number of units sold and evaluation in monetary terms (average sales prices by geographic regions). Data are provided for four geographical regions: Northeast, Midwest, South and West. The indicator is seasonally adjusted.
An important note in the report evaluation: since the report only reflects "closed" transactions, it actually includes sales made 6 to 8 weeks ago (time needed to formalize a real estate transaction in the US). So the indicator characterizes existing conditions. Analysts appreciate the index for the large sample size (covering the whole territory of the country) and for information on apartments provided in addition to single-family houses, which gives a greater objectivity in assessing the housing market. The indicator characterizes the strength of the housing market and its aggregate demand. It also enables an indirect outlook for the sales dynamics of related products, such as housing insurance or household goods.
Indicator growth can have a positive effect on USD quotes.
The chart of the entire available history of the "United States Existing Home Sales m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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