US New Home Sales Expected to Rise 2.9% in June
Economists forecast a 2.9% month-over-month increase in US new home sales for June, to a 597K annualized pace, following declines in April and May.
The upcoming week's economic data is expected to show a rebound in US new home sales for June. According to consensus estimates, sales likely rose 2.9% month-over-month to a seasonally adjusted annual rate of 597,000 units. This improvement would follow two consecutive monthly declines in April and May.
While the forecast indicates a modest recovery, the anticipated pace remains subdued compared to previous months. The data will provide further insight into the housing market's trajectory amid elevated mortgage rates and ongoing affordability challenges.
Source: FXStreet Forex News