by Bill McBride on 8/15/2015 08:11:00 AM
Saturday, August 15, 2015
Special Note: CR is on vacation this week and will return on Sunday, August 23rd. The early consensus looks low for existing home sales!
The key reports this week are July housing starts on Tuesday, and July existing home sales on Thursday.
For prices, CPI will be released on Wednesday.
8:30 AM: NY Fed Empire State Manufacturing Survey for August. The consensus is for a reading of 5.0, up from 3.9.
10:00 AM: The August NAHB homebuilder survey. The consensus is for a reading of 61, up from 60. Any number above 50 indicates that more builders view sales conditions as good than poor.
8:30 AM: Housing Starts for July.
Total housing starts increased to 1.174 million (SAAR) in June. Single family starts decreased to 685 thousand SAAR in June.
The consensus for 1.185, up from 1.174 million in June.
7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM: The Consumer Price Index for July from the BLS. The consensus is for a 0.2% increase in CPI, and a 0.2% increase in core CPI.
During the day: The AIA's Architecture Billings Index for July (a leading indicator for commercial real estate).
2:00 PM: FOMC Minutes, Meeting of July 28-29, 2015
8:30 AM: The initial weekly unemployment claims report will be released.
10:00 AM: the Philly Fed manufacturing survey for August. The consensus is for a reading of 7.0, up from 5.7.
10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 5.41 million SAAR, down from 5.49 million in June.
Sales in June were at a 5.49 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.64 million SAAR.
A key will be the reported year-over-year change in inventory of homes for sale.
10:00 AM ET: Regional and State Employment and Unemployment for July.