Here come new home sales ...
The Census Bureau will release data on new home sales at 10 a.m. ET.
Economists forecast that new home sales rose 1.6% in March at a seasonally adjusted annual rate of 520,000, according to Bloomberg."This would reveal a continued upward trajectory for home sales, consistent with the signal from mortgage purchase applications and pending home sales," Bank of America Merrill Lynch economists said in a note. Advertisement
"Given the abnormally warm winter, we are concerned that housing construction and new home sales were pulled forward from the spring to the winter, which could weigh on the near-term trajectory of seasonally-adjusted sales."