New Home Sales Source: Department of Commerce Frequency: Monthly Availability: Four to five 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 May 2, 2000: New home sales rose at the fastest pace in 1-1/2 years in March, up 4.5% to a 966,000 annual rate. Analysts expected activity to drop last month. With the exception of the South, where sales dropped by 1.9%, all regions posted increases in March. Both the West and Northeast showed double-digit gains. The inventory of new homes for sale remained unchanged at 4.1 months in March. The median price of a new home rose to $165,000 from the prior month's $160,000. See "Overview" below for more information. Overview:New home sales is a leading indicator of economic activity. The report covers the number of new, privately owned single-family houses sold during the month. As the data is moderately volatile, it is best to use the three-month moving average and year-to- year percentage changes. Some economists believe a more accurate indicator is existing home sales, which uses a sample size four times larger than new home sales data.
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