At 10:00 a.m. ET, the National Association of Homebuilders will release the Housing Market Index for April.
Economists forecast that the index rose to 57 from 56 in March, according to Bloomberg.
Raymond James’ chief economist Scott Brown wrote in a weekly note that strong jobs growth over the past year and low mortgage rates have been supportive of the housing market.
In the April release, NAHB chief economist David Crowe said, “This uptick shows builders are feeling optimistic that the housing market will continue to strengthen throughout 2015.”
There’s much more housing data on tap this week. On Tuesday morning, we’ll get April Housing Starts and Building Permits, followed by numbers on Mortgage Applications on Wednesday and Existing Home Sales on Thursday.