Here come new home sales …

REUTERS/Larry Downing

The Census Bureau will publish its monthly report on new home sales at 10 a.m. ET. 

Economists forecast that sales of new single-family homes fell 1.8% at a seasonally adjusted annual rate of 610,000, according to Bloomberg. 

Sales in March rose for a third-straight month, lifting the pace at the start of the busy spring selling season towards the highs set in 2016.

Most of the sales, however, were not made in the affordable end of the market where homes cost less than $200,000. 

Even though there’s demand from buyers, a shortage of affordable homes is keeping many would-be shoppers out of the market. 

More to come …

More from Akin Oyedele:

• Here come new home sales …
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