In This Chapter
Why you should care about existing and new home sales
Key numbers in two home sales reports
How home sales move financial markets
Why house prices are important for the economy
It might seem odd to you that the sale of a house built years ago is important. After all, with an existing home, it’s just one homeowner turning the house keys over to the new owner. That doesn’t seem quite as exciting as the thought of a brand-new home being sold.
The truth is, though, that existing home sales create a lot of excitement in financial markets. Want to know why? Because existing home sales are the backbone of the housing market. Read on and you’ll understand why.