Description:

The number of new homes sold counted when the initial contract is signed.

Released:

10:00am about 4 weeks after the month’s end

Calculation:

These numbers are calculated from the data provided by building permits because a home builder usually will not file for a building permit unless he already has a deposit or a signed contract on the property.

Key Point:

New home sales tend to be a good leading indicator. New homes sales generate lots of spending and job creation- the loans from the banks to the builders, and the skilled work that must be put in place are all good for a productive economy. New home sales are a good assessment of how comfortable new home buyers are with their financial situation; if they are unsure about their job, income, or interest rates they might hesitate to make such a large purchase.

Release site: Click here