Analysts polled by Bloomberg are looking for sales to rise to an annual rate of 385 K.

While housing has been called the only bright spot in the U.S. economy, some are concerned that new home sales haven't been as strong and could add to inventory.

Millan Mulraine at TD Securities wrote:

The new homes market has been a laggard in the overall housing market recovery, and while new homebuilding and existing home sales activity have risen significantly from their lows, new home sales have yet to enjoy a similar turnaround in fortune.