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       #Post#: 266--------------------------------------------------
       Existing Home Sales
       By: fxvictory Date: December 10, 2014, 9:35 pm
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       Definition
       Existing home sales tally the number of previously constructed
       homes, condominiums and co-ops in which a sale closed during the
       month. Existing homes (also known as home resales) account for a
       larger share of the market than new homes and indicate housing
       market trends. (National Association of Realtors)
       Why Investors Care
       This provides a gauge of not only the demand for housing, but
       the economic momentum. People have to be feeling pretty
       comfortable and confident in their own financial position to buy
       a house. Furthermore, this narrow piece of data has a powerful
       multiplier effect through the economy, and therefore across the
       markets and your investments. By tracking economic data such as
       home resales, investors can gain specific investment ideas as
       well as broad guidance for managing a portfolio.
       Even though home resales don't always create new output, once
       the home is sold, it generates revenues for the realtor. It
       brings a myriad of consumption opportunities for the buyer.
       Refrigerators, washers, dryers and furniture are just a few
       items home buyers might purchase. The economic "ripple effect"
       can be substantial especially when you think a hundred thousand
       new households around the country are doing this every month.
       Since the economic backdrop is the most pervasive influence on
       financial markets, home resales have a direct bearing on stocks,
       bonds and commodities. In a more specific sense, trends in the
       existing home sales data carry valuable clues for the stocks of
       home builders, mortgage lenders and home furnishings companies.
       Frequency
       Monthly
       Source
       National Association of Realtors.
       Availability
       On or about the 25th of the month.
       Coverage
       Data are for the previous month. Data for June are released in
       July.
       Revisions
       Yes.
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