Photo: Daniel Goodman / Business Insider
UPDATE:Sales of newly constructed residential homes jumped to their highest pace since 2010, new data out of the Census Bureau shows.
Sales increased 3.6 per cent in July to an annual pace of 372,000 units, above estimates for a 365,000 print.
Total sales in 2012 are now running 25.3 per cent above the pace of sales recorded just one year ago.
Below, a look at home sales over the past decade.
Photo: Eric Platt/Business Insider, Data: Census Bureau
Minutes away from the final data point of the day: new home sales.
Economists polled by Bloomberg forecast sales accelerated 4.3 per cent in July to an annualized pace of 365,000 units.
If that holds, it would represent the third highest reading since the spring selling season of 2010.
The announcement is expected at 10:00 a.m.