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The Week Ahead: Existing Home Sales and Housing Starts Stats

Two reports tallying the amount of existing home sales and registered housing starts are set to release late this week. The tally of existing home sales, initially reported by the National Association of Realtors (NAR) will release Friday while the data on housing starts, as reported by the U.S. Census Bureau, will come out Wednesday.

According to data from the Census Bureau, permits reached 1.3 million while starts ended at 1.18 million in August. Starts were 0.8 percent lower than the revised estimate of 1.190 million homes from July 2017, but 1.4 percent above the August rate of 1.164 million last year. Permits were 5.7 percent above the revised July 2017 rate of 1.23 million and 8.3 percent above the August 2016 at 1.2 million.

Existing home sales landed at 5.35 million and declined 1.7 percent in August 2017.  This is the fourth consecutive month over the past five months as supply continues to diminish, according to the National Association of Realtors. There was a 0.2 percent increase compared to August last year, where sales were at 5.34 million.   

The most recent report on housing rates is scheduled to release at 8:30 a.m. Wednesday and the report on existing home sales will release at 10:00 a.m. Friday.

This Week’s Schedule:

Beige Book, Wednesday, 2:00 p.m. EST

Housing Market Index, Wednesday, 10 a.m. EST

Senate Hearing, Tuesday, 10 a.m. EST
MBA Mortgage Applications, Wednesday, 7 a.m. EST

About Author: Dean Terrell

After earning his B.A. in Writing Arts at Rowan University located in South Jersey, Terrell moved to Texas to pursue a career in publishing and editorials.

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