The latest data on US existing home sales are set for release at the top of the hour.
Economists estimate, according to Bloomberg, that sales of existing single-family homes, condos and coops fell 2.9% in February at an annual rate of 5.31 million.
In January, existing home sales rose to the highest annual rate in six months, by 0.4%.
The series are quite volatile on a month-to-month basis.
Here's a preview from Wells Fargo's Sam Bullard:
Existing home sales rose modestly in January and were 11 percent higher than a year ago. Existing home sales are currently near their cycle highs, although they remain well below their prerecession peak. Tight inventory on the market should remain a major headwind; although total housing inventory rose 3.4%t during the month, they are still 2.2 percent below their year-ago level. Taking into account the 2.5% decline in January pending home sales, we project existing home sales will fall 1.7% in February to a 5.38-million unit pace.
We'll have the latest at the top of the hour, so refresh this page for updates.