Tuesday, August 23, 2016

Wednesday: Existing Home Sales

by Bill McBride on 8/23/2016 05:54:00 PM

Note: I'm in New York and posting will not be frequent (too much to do and see).

Thanks to Joe Weisenthal for having me on Bloomberg's WDYM. And Barry Ritholtz on his MIB radio and podcast.

Wednesday:
At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

At 9:00 AM, FHFA House Price Index for June 2016. This was originally a GSE only repeat sales, however there is also an expanded index.  The consensus is for a 0.3% month-to-month increase for this index.

At 10:00 AM, Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 5.52 million SAAR, down from 5.57 million in June.

Housing economist Tom Lawler expects the NAR to report sales of 5.41 million SAAR in July, down 2.9% from June’s preliminary pace.

Hint: Lawler isn't always closer, but I'd take the under on the consensus Wednesday.