Here Comes New Home Sales...

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New home sales data will be out at 10 AM on Tuesday.

Expectations are for an annualized pace of 460,000 units.

In October, new home sales climbed 0.7% to an annualized pace of 458,000 units - below expectations of 471,000.

"...updates on existing and new home sales probably will support the FOMC's observation that the recovery in the housing sector remains slow," writes Societe Generale's Michala Marcussen.

For November, existing home sales plunged 6.1% - which was much worse than expected.

Stay tuned for the numbers...