by Calculated risk on 09/17/2022 08:11:00 AM
The main reports this week are the August home starts and existing home sales.
The Federal Open Market Committee meets this week and is expected to raise interest rates by 75 basis points.
—– Monday, September 19 —–
10:00 am: September NAHB housing construction survey. The consensus is a reading of 47, down from 49 in August. Any number less than 50 indicates that more builders view sales conditions as bad than good.
—– Tuesday 20 September —–
8:30 am: Housing Beginnings for the month of August.
This graph shows individual and total dwellings started since 1968.
The consensus is 1.445 million SAAR, down from 1.446 million SAAR.
During the day: AIA’s Architecture Billing Index for August (a leading indicator of commercial real estate).
—– Wednesday, September 21 —–
7:00 a.m. ET: The Mortgage Bankers Association (MBA) will release results Index of mortgage applications.
10:00 am: Existing Home Sales for August from the National Association of Realtors (NAR). The consensus is 4.70 million SAAR, down from 4.81 million in July.
The graph shows existing home sales from 1994 through last month’s report.
Housing economist Tom Lawler expects the NAR report to come in at 4.84 million SAR.
02:00: Federal Open Market Committee meeting announcement. The FOMC is expected to raise the federal funds rate by 75 basis points at this meeting.
02:00: FOMC Outlook This will include FOMC participants’ expectations of the appropriate target federal funds rate along with the quarterly economic outlook.
2:30 pm: Federal Reserve Chairman Jerome Powell He holds a press conference following the FOMC announcement.
—– Thursday, September 22 —–
8:30 am: Initial weekly jobless claims The report will be released. The consensus is for an increase to 218K from 213K last week.
11:00 am: Kansas City Federal Manufacturing Survey for the month of September.
—– Friday, September 23 —–
There are no major economic releases scheduled.