by Bill McBride on 6/16/2018 08:15:00 AM
The key economic reports this week are May Housing Starts and Existing home sales.
For manufacturing, the Philly Fed manufacturing survey will be released this week.
—– Monday, June 18th —–
10:00 AM: The June NAHB homebuilder survey. The consensus is for a reading of 70, unchanged from 70 in May. Any number above 50 indicates that more builders view sales conditions as good than poor.
—– Tuesday, June 19th —–
8:30 AM: Housing Starts for May.
This graph shows single and total housing starts since 1968.
The consensus is for 1.309 million SAAR, up from 1.287 million SAAR in April.
—– Wednesday, June 20th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
9:30 AM: Panel Discussion, Fed Chair Jerome Powell, Monetary Policy at a Time of Uncertainty and Tight Labor Markets, At the ECB Forum on Central Banking, Linhó Sintra, Portugal
10:00 AM: Existing Home Sales for May from the National Association of Realtors (NAR). The consensus is for 5.56 million SAAR, up from 5.46 million in April.
The graph shows existing home sales from 1994 through the report last month.
Housing economist Tom Lawler estimates the NAR will reports sales of 5.47 million SAAR for May and that inventory will be down 5.2% year-over-year.
During the day: The AIA’s Architecture Billings Index for May (a leading indicator for commercial real estate).
—– Thursday, June 21st —–
8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 220 thousand initial claims, up from 218 thousand the previous week.
8:30 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 26.0, down from 34.4.
9:00 AM: FHFA House Price Index for April 2018. This was originally a GSE only repeat sales, however there is also an expanded index.
—– Friday, June 22nd —–
No major economic releases scheduled.