Here Comes Existing Home Sales...

Existing home sales for April are out at 10 a.m. ET.

Economists polled by Bloomberg are looking for existing home sales to rise 2.2% month-over-month to an annualized pace of 4.69 million units.

This compares to a 0.2% fall to an annualized pace of 4.59 million units in March.

The pending home sales index increased modestly in March, and the series leads existing home.

Moreover, sales are expected to get a boost as the weather returns to normal seasonal patterns.

But Federal Reserve chair Janet Yellen has expressed concern about the housing recovery.