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US home construction preview
The Commerce Department reports on U.S. home construction in May. The report is scheduled to be released at 8:30 a.m. Eastern on Tuesday. Economists expect that builders started work on 1.03 million homes at a seasonally adjusted annual rate last month, according to a survey by FactSet. That would be a 3.7 percent decrease from 1.07 million in April. WARMING UP: Home construction has struggled to gain much traction this year. Homebuilders have embraced a tradeoff: deciding to construct fewer houses but charging higher prices for them. Now that the spring and summer buying season is in full swing, builder confidence ... (full story)
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