Official data explained
How to Read Housing Data Without Mistaking One Measure for Another
A guide to new-home sales, construction spending, starts, permits, prices, and why none alone measures affordability.
Sales are not prices
New-home sales estimate signed contracts for newly built homes. Existing-home sales cover a different market. Neither series alone measures the level or direction of all home prices.
Construction spending is not affordability
Construction spending measures the value of construction put in place. It is not a measure of rents, mortgage payments, home prices, or whether a particular household can afford a home.
Starts, permits, and completions
Housing starts describe construction beginning, permits describe authorized future construction, and completions describe finished homes. They are related but occur at different points in the building process.
Follow the underlying data
Use the live economic dashboards for current context, then consult the publisher's original release for definitions, revision details, and tables.
Numbers Uncovered provides source-backed editorial context, not investment advice. A single release should not be treated as a complete forecast.