Fox Business – Housing data will take center stage next week as financial markets take a day off on Thursday for the Thanksgiving holiday.
A report on existing-home sales is due Monday. Like many housing statistics, existing-home sales data, which measure closings of previously constructed homes, condos and co-ops, have bounced around in recent months but the trajectory seems to be moving slightly higher in the long run.
After years of an inventory glut brought about by record foreclosure levels, the number of available homes is tightening, housing experts say. That bodes well for home prices.
Also Monday, the National Association of Home Builders will release its monthly housing market index, which is compiled through a survey of NAHB member who are asked their views on the overall economy and housing environment.