Here Comes New Home Sales...

New home sales for February are out at 10 a.m. ET.

Economists polled by Bloomberg are looking for new home sales to fall 4.9% month-over-month to an annualized pace of 445,000.

This compares with a 9.6% MoM rise in January to an annualized pace of 468,000.

Homebuilder confidence has also been weakening. Homebuilders cited the severe winter and difficulties in finding lots and labor for declining confidence.