Pending home sales only report today


Today's economic calendar is uneventful, with pending home sales the only item scheduled.

The National Association of Realtors is scheduled to report January's change in home sales at 10 a.m. ET. Economists expect an increase of 1 percent, versus a 3.5 percent decline in December.

The report is less important than new home sales because construction has a greater impact on the economy.

The focus remains on housing tomorrow as well, with the S&P Case-Shiller Index of home prices scheduled for 9 a.m. ET.

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