DEFINITION of 'New Home Sales'
An economic indicator that measures sales of newly built homes. Released by the U.S. Department of Commerce's Census Bureau, it includes both quantity and price statistics. It is considered to be a lagging indicator of demand in the market and to affect mortgage rates.
BREAKING DOWN 'New Home Sales'
A new home sale is considered to be any deposit or contract signing either in the year the house was built or the year after it was built.