Monday, March 24, 2008

Housing Takes Center Stage This Week

Existing home sales will get released this morning at 10:00, and as has been the case for the past six months or so, the numbers are expected to decline. If we do see a decline again this month, it will set another 10-year low. January's report was the worst in 10 years, so anything below that will set another record.

The new home sales report will get released Wednesday morning, and it too is expected to show a decline. The January version of this report was at a 13-year low. Anything above expectations would likely lift not only home builders, but also the entire market.

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