What is it? It checks the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 27th at 10:00am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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