Here come existing-home sales ...

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

Economists forecast that sales of existing condos, coops, and single-family homes fell 1.1% at a seasonally adjusted annual rate of 5.65 million. Sales rose to a ten-year high in March, at a pace of 5.71 million.

Mortgage applications climbed for three straight months through May, showing that demand remains strong even though the inventory of affordable homes is low and prices are rising faster than wages.

Earlier this year, the NAR noted that wealthier buyers who were willing to pay in cash made up an above-average share of the market and held a competitive advantage over first-time buyers.

More to come ...

More from Akin Oyedele:

• Here come existing-home sales ...
• The owner of Corona reportedly offered to buy the owner of Jack Daniels but was turned down (STZ, BF/A)
• One of the world's largest commodities traders is reportedly in talks to make a big entry into America's agriculture market (BG, GLEN)
• New-home sales plunge by a lot more than expected
• The carnage in retail is good news, but only if you know where to look (ULTA, FND, TSCO)

NOW WATCH: 9 phrases on your résumé that make hiring managers cringe

Please enable Javascript to watch this video