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The week ahead is a short one for the financial markets, and it is a light one for US economic indicators. But that doesn’t mean it will be a quiet week for the markets, since we live in volatile times.
May data for existing home sales (to be released on Tuesday) and new home sales (on Friday) are likely to show that the housing market is falling deeper into a recession. The median prices of both single-family existing homes and new homes are likely to show signs of peaking. Mortgage applications through the June 17 week should show that the housing recession continued to worsen this month.
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