USD Existing Home Sales Change
The recorded sales of pre-owned homes in the US. Due to the sensitivity of the housing market to business cycle twists, this report tends to be a valuable indicator of overall conditions of the economy when housing is an important factor. Despite the fact that pre-owned home sales are not taken into account in the GDP, they do affect the overall state of the US economy. Used home sellers generally use capital gains from property sales on consumption which has the tendency of stimulating the economy. While helping grow the economy, increased consumer spending levels may also increase inflationary pressures. This report, however, is not as timely as other housing indicators such as the New Home Sales or Building Permits, thus causing Existing Home Sales to be recorded post the possible changing of market conditions.