Source Census Bureau (latest release)
Measures Annualized number of new private-sector residential buildings that were sold during the previous month;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 25 days after the month ends;
Next Release Aug 26, 2008
FF Notes While this is monthly data, it's reported in an annualized format (monthly figure x12). Tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated;
Why Traders
Care It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction;
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