The Census Bureau surveys builders nationwide and bases their figure on the number of contracts signed for new homes. Because it reflects contracts rather than closings (as is the case with existing home sales), new homes sold should more quickly reflect changes in mortgage rates and the economic environment. The reported figure is generally a seasonally adjusted, annual rate.

Monthly report by the Commerce Department of the sales of new, single-family homes. An economic indicator, the new home sales report measures consumer confidence. A large increase indicates the economy may be overheating.

Monthly new home sales data contains information on home prices and number of houses for sale, which indicate consumer spending patterns and economic activity. Volatility and revisions, however, are common in the report.