Here come pending home sales ...

The National Association of Realtors will release its monthly report on pending home sales at 10 a.m. ET.

Economists forecast pending sales of condos, coops, and single-family homes increased by 2.5% in February, according to Bloomberg.

Pending sales are based on signed contracts that have not yet closed, so they are a gauge of future sales.

"We expect the housing sector to remain on firm footing despite the increase in interest rates, due to the health of the labor market and household balance sheets, and the easing of lending standards for residential mortgages," Deutsche Bank economists said in a preview.

Sales fell 2.5% in January. "The significant shortage of listings last month along with deteriorating affordability as the result of higher home prices and mortgage rates kept many would-be buyers at bay," said Lawrence Yun, the NAR's chief economist, in the release.

More to come ...