The Census Bureau will release data on new home sales at 10 a.m. ET.
Economists forecast that new home sales rose 1.6% in March at a seasonally adjusted annual rate of 520,000, according to Bloomberg.
“This would reveal a continued upward trajectory for home sales, consistent with the signal from mortgage purchase applications and pending home sales,” Bank of America Merrill Lynch economists said in a note.
“Given the abnormally warm winter, we are concerned that housing construction and new home sales were pulled forward from the spring to the winter, which could weigh on the near-term trajectory of seasonally-adjusted sales.”
We’ll have the latest details at the top of the hour, so refresh this page for updates.