Existing home sales: housing demand on trial

Existing home sales are expected to edge up to 4.06 million from 4.02 million, which makes this a useful read on whether housing demand is still coping with higher borrowing costs. Real estate is already one of the weaker areas today, so even a normal housing print can matter more than usual.

1. If existing home sales beat 4.06 million, the market will read that as housing demand holding up better than expected. That would be a modest positive for housing-linked names and could also nudge yields a touch higher if traders see firmer demand.

2. If sales miss, it will reinforce the idea that higher borrowing costs are still biting into the housing market. That usually weighs on real estate-linked stocks and can also spill into lenders and other financing names.

3. If the report lands near 4.06 million, the reaction should stay contained. Traders will likely treat it as a check on affordability rather than a broad market signal.

This is a direct read on housing demand and mortgage affordability. Stronger sales help the housing chain feel steadier; weaker sales bring the pressure back.