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NEW YORK - Next week, investors will get updates on the struggling housing sector when the Department of Commerce reports data on new home sales for May, and the National Association of Realtors reports on existing home sales.
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After booming early in the decade, home prices have been falling for nearly two years.
Economists predict a decline in new home sales and a slight rise in existing home sales when data are released on Wednesday and Thursday, respectively.
The pace of housing construction has slowed considerably, with the Commerce Department reporting recently that new housing projects in May slipped 3.3 percent to a pace that is the slowest in 17 years.
The Standard & Poor's/Case-Shiller index of home prices in major U.S. cities for April will be released Tuesday.
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