GDP will be the highlight of the week ahead
This week doesn’t have too much data that will move the bond market. But there are some important data for real estate investors. We’ll get new home sales on Monday, the FHFA and Case-Shiller home price indices on Tuesday, pending home sales and the second revision to second quarter GDP on Thursday, and personal income and personal spending on Friday.
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Note that the advance estimate for second quarter GDP came in at +4.0%. Wall Street is forecasting that that number gets revised downward to +2.4%.
Economic data this week
Monday, August 25, 2014
Tuesday, August 26, 2014
Wednesday, August 27, 2014
Thursday, August 28, 2014
Friday, August 29, 2014
Earnings reports this week
Impact on mortgage REITs
There isn’t much that is market-moving this week, although personal income will be important, as wage inflation is one thing the Fed is waiting to see.
Impact on homebuilders
There’s a lot of data this week of interest to the builders. Existing home sales, new home sales, and the home price indices are critical data points for them. That said, 2014 is more or less in the books as far as the builders are concerned.
We’re heading into the seasonally slow period of fall and early winter. Homebuilder analysts will focus on the geographies that are experiencing the most growth.
Impact on commercial REITs