NEW YORK—Next week, analysts expect more bad news on housing, when the National Association of Realtors releases its index of pending sales for existing homes on Wednesday.
In February, the index dropped to 84.6, its lowest reading since the index began in 2001. Analysts expect another steep drop to 82.2 for March.
A reading of 100 is equal to the average level of sales when the index started.
Meanwhile, investors will also get an update on the financial health of Fannie Mae, the largest buyer and backer of U.S. home loans, which reports first-quarter results on Tuesday.
In the fourth quarter, Fannie reported a $3.56 billion loss on growing home-loan delinquencies and bad bets on interest rates. Analysts expect a smaller first-quarter loss.
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