Economists polled by Bloomberg are looking for existing home sales to fall 4.1% month-over-month to an annualized pace of 4.67 million units.
This compares with a 1% rise in December to an annualized pace of 4.87 million units.
Pending home sales, considered a leading indicator for future existing home sales, have been falling sharply. This suggests that existing home sales will be ticking lower.
Existing home sales account for a larger share of the market than new homes.