The National Association of Realtors will release data on existing home sales at the top of the hour.
Economists estimate, according to Bloomberg, that sales of previously occupied homes fell 1.2% at an annualized rate of 5.43 million in July.
Last month, existing home sales rose at the fastest pace since February 2007. May and June were the strongest two months for sales since early 2007, the NAR said.
And on Tuesday, the Census Bureau said housing starts climbed at the highest rate in nearly eight years.