Next week will include the release of three important industry reports, all of which will help provide important context and insights for housing's continued strong performance in the face of the ongoing pandemic.
On Tuesday, the National Association of Realtors will release their latest Existing-Home Sales Report, covering data from August 2020. The previous report, released last month, found double-digit existing-home sales increases in each of the four major regions examined, although the Northeast experienced a year-over-year decline.
At the time, Lawrence Yun, NAR’s Chief Economist, said, “The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days. With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”
Also next week, the FHFA will release its Home Price Index, covering July 2020 Data, on Wednesday. And on Thursday, the U.S. Census Bureau will provide an update about New Residential Sales.
Here are a few other things to add to your calendar for The Week Ahead.
- House Financial Services Committee hearing: "Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response"—Tuesday, 10:30 a.m. ET
- Senate Banking Committee hearing: "The Quarterly CARES Act Report to Congress"—Thursday, 10:00 a.m. ET