DEFINITION of 'Existing Home Sales'
An economic indicator of both the number and prices of existing single-family homes, condos and co-op sales over a one-month period. The existing home sales report is released monthly by the U.S. National Association of Realtors. It is a lagging indicator as it tends to react after a change in mortgage rates.
BREAKING DOWN 'Existing Home Sales'
The existing home sales report does not look at newly built houses or the sale of new houses. This indicator is thought to be a good measure of demand in the real-estate sector.