Lastly, on Wednesday, investors will watch for the new home sales data of newly constructed homes for June. Like home resale, new home sales provides forward guidance on demand in the housing market and forward momentum in the economy.
The SPDR S&P Homebuilders ETF (NYSEArca: XHB) has gained 15.2% year-to-date and iShares U.S. Home Construction ETF (NYSEArca: ITB) is up 9.1%.
SPDR S&P Homebuilders ETF
For more information on the housing market, visit our homebuilders category.
Max Chen contributed to this article.