Schedule for Week of September 21st

The key reports this week are August New home sales on Wednesday, Existing home sales on Monday, and the third estimate of Q2 GDP on Friday.

For manufacturing, the September Richmond and Kansas City Fed surveys will be released this week.

----- Monday, September 22nd -----
8:30 AM ET: Chicago Fed National Activity Index for August. This is a composite index of other data.

10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR).

The consensus is for sales of 5.18 million on seasonally adjusted annual rate (SAAR) basis. Sales in July were at a 5.15 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.12 million SAAR.

A key will be the reported year-over-year increase in inventory of homes for sale.

----- Tuesday, September 23rd -----
9:00 AM: FHFA House Price Index for July. This was original a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.4% increase.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for September.

----- Wednesday, September 24th -----
7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

10:00 AM: New Home Sales for August from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the July sales rate.

The consensus is for an increase in sales to 430 thousand Seasonally Adjusted Annual Rate (SAAR) in August from 412 thousand in July.

During the day: The AIA's Architecture Billings Index for August (a leading indicator for commercial real estate).

----- Thursday, September 25th -----
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 300 thousand from 280 thousand.

8:30 AM: Durable Goods Orders for August from the Census Bureau. The consensus is for a 17.1% decrease in durable goods orders (last month durable goods orders were up 22.6% due to aircraft orders).

11:00 AM: the Kansas City Fed manufacturing survey for September.

----- Friday, September 26th -----
8:30 AM: Gross Domestic Product, 2nd quarter 2014 (third estimate). The consensus is that real GDP increased 4.6% annualized in Q2, up from 4.2% in the second estimate.

9:55 AM: Reuter's/University of Michigan's Consumer sentiment index (final for September). The consensus is for a reading of 84.6, unchanged from the preliminary reading of 84.6, and up from the August reading of 82.5.