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Keep an eye out for this week's must-know real estate releases

Keep an eye out for this week's must-know real estate releases (Part 1 of 6)

Keep an eye out for this week’s must-know real estate releases

Lots of economic data this week

This week has some important data, primarily the personal spending and the personal consumption expenditures releases that will affect commercial REITs and influence Fed policy.

The first of the builders with a November fiscal year, KB Home (KBH), reports its second quarter earnings too. We’ll probably hear from Lennar (LEN) soon as well.

Personal SpendingEnlarge Graph

Economic data this week

Monday, June 23

  • Chicago Fed National Activity Index
  • Markit US Manufacturing PMI
  • Existing home sales

Tuesday, June 24

  • FHFA Home Price index
  • Case-Shiller Home Price Index
  • Consumer confidence
  • Richmond Fed
  • New home sales

Wednesday, June 25

  • MBA Mortgage Applications
  • Durable goods
  • Final Revision to Q1 GDP
  • Personal consumption
  • Capital goods orders
  • Markit Composite PMI
  • Markit Services PMI

Thursday, June 26

  • Initial jobless claims
  • Bloomberg Consumer Comfort
  • Personal income
  • Personal spending
  • Personal consumption expenditures
  • Kansas City Fed

Friday, June 27

  • Consumer confidence

Earnings reports this week

Friday, June 27

Impact on mortgage REITs

Mortgage REITs like American Capital Agency (AGNC) and Annaly (NLY) will focus on data that will move the bond market. For them, the focus will be on the inflation data, like personal consumption expenditures, which is the inflation measure the Fed prefers.

Impact on homebuilders

Builders have a lot to to focus on this week, with existing home sales, new home sales, the Case-Shiller Real Estate index, the FHFA Home Price Index, and finally earnings from KB Home (KBH). It will be interesting to see if the drop in the ten-year over the past month has affected sales or traffic.

Impact on commercial REITs

The most important data for commercial REITs will be the personal consumption data, which affects mall REITs like Simon Property (SPG) and General Growth Properties (GGP). Office REITs like Brookfield Office Properties (BPO) and Vornado Realty Trust (VNO) will also focus on the Markit PMI data, especially the services index.

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