Here come existing home sales ...

At 10:00 a.m. ET, we’ll get the latest tally on existing home sales.

Economists expect that sales rose 0.8% month-on-month to an annualized rate of 5.23 million, according to Bloomberg.

In March, existing home sales rose 6.1% to an annualized rate of 5.19 million — the fastest pace of growth in 18 months.

Existing home sales include completed transactions on single-family homes, townhomes, condominiums, and co-ops.

Ahead of the release, Wells Fargo economists wrote: “Supply constraints pose a threat to a strong spring home buying season, although inventories ticked up in March. Despite this concern, we expect existing home sales posted a slight gain in April, rising to a 5.23 million seasonally adjusted annual rate.”

On Tuesday, we got data showing that housing starts surged 20.2% in April to an annualized pace of 1.135 million, the highest level since November 2007.

We’ll be back with the numbers once they cross …

NOW WATCH: Here’s how Floyd Mayweather spends his millions

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.