The New Home Sales m/m indicator reflects a monthly change in the sales of newly constructed residences in the United States in the reported month compared to the previous month. The value measures new single-family home sales. Apartment buildings are excluded from the calculation. Also, houses built by land owners and houses built for leasing are not included.
Data provided by the US National Association of Realtors is used for indicator calculation.
The Census Bureau determines a new home sale as accepting a deposit or signing a contract, while the house can be at any stage of construction, in some cases even before the issuance of a building permit. The period between the contract conclusion and transaction end can last an average of 60 days. Very often, such a transaction is accompanied by a mortgage loan.
New Home Sales are considered to be a leading indicator compared to existing home sales.
Economists use the indicator to evaluate the state of the housing market. The growth in new housing sales indicates an expansion of the real estate market and the growth of the national economic activity. Owners of financial organizations use the indicator to predict near-term mortgage loan volumes.
The indicator growth can have a positive effect on dollar quotes.
The chart of the entire available history of the "United States New 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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