New home sales
|Release Date:||Usually released monthly, about 25 days after the month under review ends|
|Release Time:||At 10am US Eastern Time|
|Coverage:||Summarizes the information according to each District and sector|
|Released By:||The US Census Bureau|
The New Home Sales is a monthly report released by the US Census Bureau. The report is also known as the New Residential Sales report, and is a measure of the number of number of new single-family homes that were sold during the month under review (the previous month). The figures are reported in an annualized format in which the monthly figures are multiplied by 12.
This report chronicles national and regional data on the number of new single-family houses sold and also put up for sale. It also provides national data on median and average prices, the number of houses sold and for sale by stage of construction, and other statistics.
Time of Release
The New Home Sales report is usually released monthly, about 25 days after the month under review ends. The time of release is 10am US Eastern Time. The data is released on this webpage of the US Census Bureau and also on independent news feeds from Bloomberg and Thomas Reuters.
Interpreting the Data
The New Home Sales is a high impact news event which can be traded as a news trade. Ever since the collapse of the housing market in the US in 2006/2007 where many people had their residential apartments foreclosed, housing data have become highly tradable news events and the New Home Sales data is no exception.
The New Home Sales data does not carry as much impact as the Existing Home Sales report. However, a higher than expected New Home Sales report will be seen as USD positive while a reading which is lower than expected is seen as USD negative.
The real estate sector has been described as one of the largest employers of labour. Constructing a new home will involve issuance of permits, and engagement of contractors and subcontractors involved in various stages of the building process. Since housing affects a large portion of the labour market, the New Home Sales data is a keenly watched economic indicator.