This week should be a relatively quiet one for economic data. There are updates on the housing market and durable goods orders.
The National Association of Realtors releases June existing-home sales data at 10 a.m. Home buyers facing a shortage of homes for sale will look to this report for signs of relief in a tight market. Analysts expect sales to pick up by 1.4 percent to reach 5.27 million homes, down from last month’s jump of 4.2 percent, or 5.18 million homes. Existing-home sales are at their highest level since 2009.
The Federal Housing Finance Agency releases its May house price index at 9 a.m. Home prices are expected to increase by 0.8 percent, after an increase of 0.7 percent in April. Low inventory is keeping home prices high across the country.
The National Association of Realtors releases new-home sales data for June at 10 a.m. New-home sales are another indicator of whether the housing supply will increase. Sales should pick up by 1.7 percent, according to analysts. The number was up by more than 2 percent in May.
Durable goods orders for the month of June are released at 8:30 a.m. They reflect the health of the manufacturing sector — which hasn’t had the best run this year because of volatility in the aircraft industry. Orders are expected to increase by 1.5 percent this time around, after an increase of 3.6 percent in May.
Weekly jobless claims — out at 8:30 a.m. — are projected to touch 341,000, up from 334,000 last week.