Definition
A monthly count of previously owned homes that closed sales, from the National Association of Realtors (NAR), along with the median sale price.
The story
Existing homes make up most home sales; new home sales cover only newly built ones. When mortgage rates jump, existing sales tend to slow as fewer owners want to give up a low rate they already have.
Why markets watch it
Housing is one of the parts of the economy most sensitive to interest rates, so it shows how the Fed's moves are landing.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms