This morning, home sales data for the month of April is expected to be released. The data for pending home sales should show some improvement in the housing market. Mortgage News Daily reports on expected home sales data:

At 10 a.m. EDT, the National Association of Realtors
will release U.S. pending home sales for April. The consensus is
looking for a 0.3% month-over-month decline compared to the previous
month’s 1.0% pullback.

In some areas, the housing market is picking up as buyers look for bargains on foreclosures and homes with falling home values.