Existing Home Sales
Existing home sales refer to the sale of previously owned homes. This type of sale is typically conducted through a real estate agent or broker. The sale of existing homes is an important indicator of the health of the housing market and the overall economy. When existing home sales are strong, it indicates that people are confident in the economy and are willing to invest in real estate.
History of Existing Home Sales
Existing home sales have been tracked since the early 1900s. The National Association of Realtors (NAR) began tracking existing home sales in 1968. Since then, the NAR has released monthly reports on existing home sales. These reports provide valuable insight into the health of the housing market and the overall economy.
The NAR’s existing home sales report is based on a survey of real estate agents and brokers. The survey includes information on the number of homes sold, the median price of homes sold, and the average days on the market. This information is used to gauge the health of the housing market and the overall economy.
Table of Comparisons
| Year | Existing Home Sales (in millions) |
|---|---|
| 2020 | 5.51 |
| 2019 | 5.34 |
| 2018 | 5.34 |
| 2017 | 5.51 |
| 2016 | 5.45 |
Summary
Existing home sales are an important indicator of the health of the housing market and the overall economy. The National Association of Realtors (NAR) has been tracking existing home sales since 1968. The NAR’s existing home sales report is based on a survey of real estate agents and brokers. For more information on existing home sales, visit the NAR’s website or the U.S. Census Bureau’s website.
See Also
- New Home Sales
- Housing Starts
- Housing Affordability Index
- Mortgage Rates
- Consumer Confidence Index
- Gross Domestic Product
- Unemployment Rate
- Consumer Price Index
- Retail Sales
- Inflation Rate
