Definition
A monthly count of newly built homes sold, counted when the contract is signed or a deposit is taken.
The story
Because sales are counted at the contract, not the closing, this report catches changes in buyer demand early. If mortgage rates jump, fewer families sign contracts that month.
Why markets watch it
It shows how rates are hitting home buyers in near real time.
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