Here Comes New Home Sales...
Economists polled by Bloomberg are looking for new home sales to come in at an annualized pace of 429,000.
New home sales were up 7.9% in August to an annualized rate of 421,000.
The September data and revisions to the August data were delayed because of the government shutdown.
New home sales have been impacted by the rise in mortgage rates, with the 30-year fixed rate at 4.29%, according to the Freddie Mac's November 27 primary mortgage market survey.
"The Federal government shutdown may have had an effect, as 17% of realtors said delays in IRS income verification weighed on sales in October," according to UBS economist Maury Harris.
Other indicators of the housing market, like homebuilder sentiment and mortgage application have been softening. And the pending home sales index has been falling for some time now. And economists have been downgrading their home price forecasts for 2013 and 2014.
The housing recovery is expected to slow going forward.