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Updated: September 20, 2024
New Home Sales is an economic indicator that tracks the number of newly constructed homes sold in a specific period.
New Home Sales is an economic indicator that measures the annualized number of new single-family homes sold during a month. It reflects the housing market’s sales volume in new construction homes. This includes building permits issued, homes under construction, completed homes, and homes sold.
The U.S. Census Bureau and the Department of Housing and Urban Development compile and publish the data monthly.
The calculation of New Home Sales involves counting permits, housing starts, and sales of new single-family homes sold or with a pending sale during the month. Multi-unit properties are not included. The data is annualized to estimate the total sales for a 12-month period based on the current month’s sales activity.
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The New Home Sales report is released monthly, typically during the last week of the month.
New Home Sales data includes newly constructed single-family homes, whether they are move-in ready homes, homes under construction, or homes that have not yet been built. It does not include multi-family homes or homes not intended for year-round occupancy.
New Home Sales track the actual sales of new homes. Building Permits indicate how many new housing units have been authorized for construction. Permits are often considered a leading indicator for future New Home Sales.
New Home Sales data is often broken down by region, offering insights into housing market trends across different parts of the United States. This helps highlight variations in housing demand and economic conditions in different areas.
Mortgage rates influence New Home Sales by affecting home affordability. Lower interest rates typically make mortgages more affordable, increasing demand for new homes, while higher rates can reduce demand.
Yes, New Home Sales data is adjusted for predictable seasonal variations in the housing market. This adjustment helps provide a more accurate picture of underlying trends by removing the effects of typical seasonal patterns.
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