New Home Sales
Categories: Real Estate, Metrics
In the U.S., new home sales are tracked jointly by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Teamwork makes the dream work, for housing market data. Yeahhhh.
New home sales refers to the sale of new, single-family houses each month, tracking the percent increase (or decrease) in sales month-to-month, adjusting for seasonality (summer is more popular), as well as the change in median price.
Since buying a newly built house is the most expensive purchase most people will ever make (if they make it), it comes at no surprise that new home sales are considered an important economic indicator. The numbers reflect economic conditions, consumer confidence, and of course, the more-specific mortgage market.