Housing data will be among the highlights on the economic calendar during this holiday-shortened week. Small increases in existing home sales out on Wednesday and new home sales on Thursday are forecast.
Housing has been the epicenter of the economic crisis, and the US economy will not find a solid foundation until residential real estate recovers.
Interest rates are at historic lows and supply of unsold homes are plentiful. But fear is running high that home prices will keep falling and thus far, the uncertain economic atmosphere is keeping more than a handful of potential buyers on the sidelines.
Home prices will also be in focus on Tuesday when the CaseShiller Home Price Index for March is released. A decline of 18.4% is anticipate versus a year ago.
Read more on housing data: Boston Real estate News