The Commerce Department will announce new homes sales for January on Wednesday.
February new homes sales are expected to decline 5% on the month to a seasonally adjusted annualized rate of 415, 000 and the Conference Board's March consumer confidence index is seen slipping to 67.1 from February's 69.6.
In other government news, the Federal Reserve is expected to announce a decision on interest rates, the Commerce Department will release new homes sales data for December, and Treasury Secretary Timothy Geithner will testify at a House hearing regarding AIG and the Federal Reserve.
Sales of new homes are at 47-year lows, down 80% from the number being sold in 2004, and a wave of foreclosed homes will be hitting the market over coming months, giving new home sales even more competition.
Sales of new and existing homes have been falling steadily since the high sales peaks set in mid-2005.
Sales of new homes jumped nearly 20 percent last year to 367, 000, the most since 2009.
Sales of new homes also rose in 2012, although they remain near depressed levels.
Sales of new homes dipped in August and missed economists' expectations, while prices rose 11.2%.
Thanks, it is believed, to price adjustments, the sales of new homes are surprisingly strong.
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Sales of new homes in the US increased by 5.5% during November 2010 but the growth outlook still appears bleak.
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Sales of new homes in America jumped by 11% in June compared with May, the biggest increase in nearly nine years.
Sales of new homes rose in April to nearly a five-year high.
Meanwhile, the U.S. government reported that sales of new homes rose 1.5 percent in March, adding to evidence of a sustained housing recovery.
Sales of new homes have spiked in recent months and are on track to hit 368, 000 this year, well above the 306, 000 sold in 2011.
News that sales of new homes in 2012 were the highest since 2009, sparked hopes that the US housing market turned a corner last year.
However, sales of new homes have fallen, and continuing declines in starts have not yet led to meaningful reductions in the inventory of homes for sale.
Claims for unemployment insurance were high in January, sales of new homes slumped in December, and several big companies, most recently Starbucks, Boeing and Sprint Nextel, have announced thousands of job cuts.
The Shanghai Times reported that sales of new homes rose 36% week-on-week to 169, 000 square meters sold while the supply of new homes rose 76% to 357, 000 square meters during the same period.
Yet the Commerce Department also said that sales of new US homes fell in February.
February data showed the curbs are having an effect, with sales of private new homes slumping 65% from the previous month.
The annual sales pace of new homes was on track to be 23% higher last year than the record low in 2011.
For example, during the past two years, the marketplace sold about 5 million existing homes annually, plus new home sales of about 350, 000.
The sales price of new homes decline in China in August as the government high interest rates and other measures take their intended toll on the red hot real estate market, China Daily reported Sunday.
Bugatch suspects that housing turnover, sales of existing and new homes, will bottom in the fourth quarter.
Sales of new and existing homes were about flat, on balance, during the second half of last year.
Increased activity was helped by a combination of low mortgage rates and rising prices, encouraging builders to believe they can make a profit on sales, demand for new homes and jobs growth.
But the thaw finally set in over the course of the last two years as key housing indicators signaled a definite recovery in demand for homes in the US. New home sales crawled their way up to 367K for 2012, the highest since 2009.
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We expect further weakness in housing starts and in sales of both new and existing homes.
Relative to sales, inventories of unsold new homes are not high by historical standards.
Regarding housing, progress has been choppy but the trends in sales of both new and existing homes show improvement.
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