The National Association of Realtors will publish its monthly report on US existing-home sales at 10 a.m. ET.
Economists forecast that sales in the most active part of the housing market rose 2.2% at a seasonally adjusted annual rate of 5.6 million in March, according to Bloomberg.
Recent gains in pending home sales, which lead existing-home sales by a few months, could bode well for the latter, according to Deutsche Bank.
Sales eased from a 10-year high in February as a limited supply of affordable houses kept prices high and strained some buyers’ budgets, according to the NAR. Wealthier investors who were willing to pay in cash made up an above-average share of the market and held a competitive advantage over first-time buyers, the NAR said.
More to come …
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Source:: Business Insider