As home sales go, so goes the economy Christine Perez Forget the stock market. Home sales are the leading indicator of the economy's health, according to David Lereah, chief economist for the National Association of Realtors. The reason, said Lereah, is a strong housing market. Retail sales are weak, consumers are not in the mood for goods and services. But they are in a good mood for housing and automobiles.
Housing is robust.
New home sales are at all-time record levels. This is the second-best year on record for real estate. I think the fate of the economy depends on housing. Lereah said things have probably gotten as bad as they're going to get this year. The economy is very weak.