From the course: Economic Indicators

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New home sales

New home sales

From the course: Economic Indicators

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New home sales

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- When the average person asks about the housing market, they're really asking one basic question. How's the value of my biggest investment doing? There are a lot of economic indicators about housing and construction activity, but there are only a few reports that indicate price. And the New Home Sales report from the US Census Bureau is one of the most important reports that does. If you want to know what it'll cost to buy a new home and how many new homes are available for sale nationally and regionally, this is the report for you. New home sales data are important because new homes are part of GDP growth, and more new homes equals more GDP more economic growth. Residential investment averages roughly three to 5% of GDP according to the National Association of Home Builders. And this includes construction of new single family and multi-family structures, residential remodeling, production of manufactured homes and brokers' fees. So if new home sales rise, GDP is likely to rise as…

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