The index reflects changes in housing and contracting activities and is a leading indicator of activity in the real estate market. It is based on signed real estate contracts for existing single-family homes, apartments and co-operatives. The signed contract is not considered sale until the end of the transaction. The index does not include new construction. The data above the forecast strengthen USD, while the data below it affect the national currency negatively. The index is projected to decrease from 3.8% to 0.9%.
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