Existing Home Sales

Definition of existing home sales.

Existing home sales. Sales were 10 5 higher compared with august 2019. Existing home sales transaction data measure and report sales and prices of existing single family homes condos and co ops for the united states and is broken down. Robust home sales mean economic growth and an.

These figures include condos and co ops in addition to single family homes. Based on the current sales pace that represents a four month supply. A monthly report from the national association of realtors that tracks the sale of existing homes used to gauge the demand in the housing market.

This is a lagging indicator tracking the us housing market which is impacted by a change in mortgage rates. Us existing home sales reflects the total unit sales of us homes that are already built. This page provides the latest reported value for united states existing home sales plus previous releases historical high and low short.

Existing home sales surged in july as americans sought to take advantage of rock bottom mortgage rates and make up for wasted time in the wake of the covid related business closures. Historically us existing home sales declined to a trough of 3 77 million units sold in november 2008 as foreclosures increased and home values fell during the us housing crisis. Existing home sales are based on closing transactions of single family townhomes condominiums and cooperative homes.

There were 1 5 million existing homes for sale last month down 21 1 from july 2019 the 14th straight year over year decline. Copyright 2016 national association of realtors. What are existing home sales.

Sales of existing homes rose 2 4 to a seasonally adjusted annualized rate of 6 million units according to the national association of realtors. Existing home sales in the united states averaged 3989 37 thousand from 1968 until 2020 reaching an all time high of 7250 thousand in september of 2005 and a record low of 1370 thousand in march of 1970.