Here come new home sales ...
The latest data on new home sales are set for release at the top of the hour.
Economists estimate that new home sales rose 3.2% in February at an annual rate of 510,000. In the prior month, sales fell 9.2% at a rate of 494,000.
In a preview to clients, Bank of America Merrill Lynch economists wrote,
New home sales are likely to be little changed, at 495,000, in February. Mortgage purchase applications weakened in the month, while buyer traffic indicators from the NAHB survey were mixed. We suspect that this partly reflects worse weather conditions relative to the start of the winter. Looking past the monthly swings, we continue to believe in an upward trajectory for new home sales.
We'll have the latest once the data cross, so refresh this page for updates.