The index reflects changes in housing contract activity 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 cooperatives. The signed contract is not considered a sale until the end of the transaction. The index does not include new constructions. The data above the forecast strengthen the USD, and the data below the forecast put pressure on the national currency. The February figure is expected to decline from 4.6% to 0.7%.
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