Existing Home Sales Source: The National Association of Realtors Frequency: Monthly Availability: Three to four weeks following the reported month Possible Impact on Interest Rates: Larger-than-expected monthly increase or increasing trend is considered inflationary, causing bond prices to drop and yields and interest rates to rise.
Current Data Reported April 25, 2000: Existing home sales rose 1.5% to a 4.83 million unit rate in March. All regions posted increases for the month with the exception of the South, which fell 4.1% following a strong gain the prior month. The West saw a 10.7% increase as compared to a 8.7% increase the prior month. The inventory of homes offered for sale rose to 3.3 months from a low 2.8 months in February. Housing activity remains strong, although it is well of the highs seen at its peak last year. See "Overview" below for additional information. Overview: Existing home sales is an excellent indicator of housing demand and a leading indicator of overall economic activity. The report covers the number of existing, privately owned single-family houses sold during the month. Some economists believe this report to be more significant than new home sales as it is based on a much larger sample size and is released about one week before new home sales data. The bond market considers this report to be of moderate importance.
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