All eyes are on the residential construction report for June, to be released by the Commerce Department Tuesday, July 19. 

Analysts are expecting starts to come in at a seasonally adjusted annual rate of about 570,000. If correct, that would be a 1.8% increase over housing starts for May. Starts have been under the 600,000 mark since January, when they were at a pace of 636,000.

Tuesday's residential construction report will also release building permits, which are expected to be between 600,000 and 609,000 as a seasonally adjusted annual rate in June, compared with 609,000 in May.