Definition
Existing home sales are previously-owned homes sold during a period. They represent the vast majority of residential transactions. Rising existing home sales indicate strong demand; declining sales suggest weakening markets.
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Existing home sales data is tracked and reported monthly, providing current snapshot of residential real estate market activity. The vast majority of home sales are existing homes rather than new construction. Existing home sales numbers directly reflect current market demand and activity levels. Rising existing home sales indicate strong demand and healthy market conditions, while declining sales suggest weakening demand. Existing home sales data includes prices, inventory, and days on market statistics.
Pro Tip
Monitor existing home sales trends in your region. Rising sales indicate market strength; declining sales suggest caution.
Example
National Association of Realtors reported existing home sales increased 8% year-over-year, indicating strengthening residential real estate market demand.