On Tuesday, the S&P Case-Shiller home price index, which tracks monthly changes in the value of residential real estate in 20 metropolitan regions, showed a gain of 0.6% in July, down from 0.9% in the prior two months, according to Bloomberg data.
On Wednesday, Sept. 25, investors will be waiting on new home sales data for August. New home sales plunged 13.4% to 394,000 in July after a 3.6% gain in June. Analysts anticipate an average 425,000 gain for August.
Market observers will also be watching for August pending home sales on Thursday, Sept 26. Pending home sales were down 1.3% in July after a 0.4% decline in June. Analysts expect another 1.0% dip in August.
SPDR S&P Homebuilders ETF
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Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own XHB.