SPY & Existing Home Sales
The annualized number of previously owned residential properties sold each month, measuring housing demand and market activity.
SPY Price
Existing Home Sales
Annualized units with 3-month MA
Year-over-Year Change
What It Measures
Existing Home Sales measures the annualized pace of sales of previously owned (not new construction) single-family homes, townhomes, condominiums, and co-ops. This represents the vast majority (~85-90%) of all home sales in the United States. Key characteristics: - **Annualized**: Monthly sales multiplied by 12 to show annual pace - **Seasonally Adjusted**: Removes normal seasonal patterns - **Closings-Based**: Counts completed transactions, not new contracts The National Association of Realtors (NAR) collects data from Multiple Listing Services (MLS) and surveys of real estate transactions.
Why It Matters
**Housing Demand Barometer**: Existing home sales directly measure consumer demand for housing, the largest purchase most households make. **Economic Multiplier**: Home sales trigger significant economic activity: furniture purchases, renovations, moving services, mortgage fees, and realtor commissions. **Consumer Confidence Proxy**: Willingness to make a large purchase like a home reflects consumer confidence and financial health. **Mortgage Rate Sensitivity**: Existing home sales are highly sensitive to mortgage rates, making them a key indicator for Fed policy transmission. **Inventory and Prices**: Sales pace affects inventory levels and price dynamics in the housing market.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-02-13)
Existing Sales: EXHOSLUSM495S - Existing Home Sales from National Association of Realtors
Units: , ,