The key reports this week are August Housing Starts and Existing Home sales.
The FOMC meets this week and no change to policy is expected.
—– Monday, September 18th —–
10:00 AM: The September NAHB homebuilder survey. The consensus is for a reading of 50, unchanged from 50 in August. Any number above 50 indicates that more builders view sales conditions as good than poor.
This graph shows single and total housing starts since 1968.
The consensus is for 1.440 million SAAR, down from 1.452 million SAAR.
10:00 AM: State Employment and Unemployment (Monthly) for August 2023
—– Wednesday, September 20th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
During the day: The AIA’s Architecture Billings Index for August (a leading indicator for commercial real estate).
2:00 PM: FOMC Meeting Announcement. No change to policy is expected at this meeting.
2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants’ projections of the appropriate target federal funds rate along with the quarterly economic projections.
2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.
—– Thursday, September 21st —–
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 224 thousand initial claims, up from 220 thousand last week.
8:30 AM: the Philly Fed manufacturing survey for September. The consensus is for a reading of 0.0, up from -12.0.
The graph shows existing home sales from 1994 through the report last month.
Housing economist Tom Lawler expects the NAR to report 4.84 million SAAR.
—– Friday, September 22nd —–
No major economic releases scheduled.