Existing homes, unlike new homes, are homes that are owned and occupied before coming onto the market. This report shows the strength of the U.S. housing market and is an important sign of overall economic strength. Existing home sales dropped for the 12th straight month in January. Higher interest rates and the fear of recession are taking effect on home purchases. The details can be seen here. https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
