The Census Bureau surveys builders nationwide and bases their figure on the number of contracts signed for new homes. Because it reflects contracts rather than closings (as is the case with existing home sales), new homes sold should more quickly reflect changes in mortgage rates and the economic environment. The reported figure is generally a seasonally adjusted, annual rate.
Monthly report by the Commerce Department of the sales of new, single-family homes. An economic indicator, the new home sales report measures consumer confidence. A large increase indicates the economy may be overheating.
Monthly new home sales data contains information on home prices and number of houses for sale, which indicate consumer spending patterns and economic activity. Volatility and revisions, however, are common in the report.
Reports the number of new single-family homes sold, expressed on an annual basis. Can be combined with Existing Home Sales to determine the total volume of home sales, a strong predictor of future national mortgage origination volume. Frequency: monthly. Source: Commerce Department.
New Home Sales is an economic indicator which records sales of newly constructed residences in the United States. Because New Home Sales trigger consumption, they have significant market impact upon release. New Home Sales also serve as a good indicator of economic of economic turning points due to its consumer income sensitivity.