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Existing home sales — What to know in markets Friday

Heidi Chung
·Reporter

Investors will pulse on the U.S. housing market on Friday morning when existing-home sales data for May is released. Economists polled by Bloomberg expect existing-home sales to have risen to a seasonally-adjusted 5.30 million units, up from the 5.19 million units sold in April.

“Consumers’ assessment of home-buying conditions has been deteriorating for a while, owing to higher home prices, and could weigh on sales activity,” Nomura wrote in a note on June 14. “Moreover, a material softening of consumer confidence driven by increased trade tensions and related financial market volatility can possibly dampen consumer demand as consumers delay home-buying plans, faced with increased uncertainty.”

Meanwhile, CarMax (KMX) will be the only major S&P 500 (^GSPC) company to report earnings ahead of the market open.

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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