New Home Sales

Source: The Census Bureau of the Department of Commerce.
Release Time: 10:00 ET around the last business day of the month. Data is for prior month.
Web: http://www.census.gov/const/newressales.pdf

The New Home Sales report measures the level of new privately owned one-family houses sold and for sale. Historically, changes in consumer spending have appeared first in autos and housing. If the sales of new homes weakens, housing starts will suffer and this will in turn affect employment in the construction industry. In this way slowing home sales can be a leading indicator of a coming recession. Conversly, in a strengthening economy, housing and autos are normally the first to benefit. The home sales report is volatile and often sees significant revisions. The existing home sales report, which has a sample data pool four times as large and is released earlier in the month is more likely to cause a market reaction.