by Calculated Risk on 2/19/2022 08:11:00 AM

The key reports this week are January New Home sales and the second estimate of Q4 GDP.

Other key reports include Case-Shiller house prices and Personal Income and Outlays for January.

For manufacturing, the February Richmond and Kansas City manufacturing surveys will be released.

----- Monday, February 21st -----
All US markets will be closed in observance of Washington's Birthday.

----- Tuesday, February 22nd -----
9:00 AM: FHFA House Price Index for December 2021. This was originally a GSE only repeat sales, however there is also an expanded index.

9:00 AM: S&P/Case-Shiller House Price Index for December.

This graph shows the year-over-year change for the Case-Shiller National, Composite 10 and Composite 20 indexes, through the most recent report (the Composite 20 was started in January 2000).

The consensus is for a 18.2% year-over-year increase in the Comp 20 index for December.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for February.

----- Wednesday, February 23rd -----
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 January (a leading indicator for commercial real estate).

----- Thursday, February 24th -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for a decrease to 240 thousand from 248 thousand last week.

8:30 AM: Gross Domestic Product, 4th quarter 2021 (Second estimate). The consensus is that real GDP increased 7.0% annualized in Q4, up from the advance estimate of 6.9%.

8:30 AM ET: Chicago Fed National Activity Index for January. This is a composite index of other data.

10:00 AM: New Home Sales for January from the Census Bureau.

This graph shows New Home Sales since 1963.

The dashed line is the sales rate for last month.

The consensus is that new home sales decreased to 807 thousand SAAR, down from 811 thousand in December.

11:00 AM: the Kansas City Fed manufacturing survey for February.

----- Friday, February 25th -----
8:30 AM ET: Personal Income and Outlays for January. The consensus is for a 0.3% decrease in personal income, and for a 1.5% increase in personal spending. And for the Core PCE price index to increase 0.5%.

8:30 AM: Durable Goods Orders for January from the Census Bureau. The consensus is for a 0.7% increase in durable goods orders.

10:00 AM: Pending Home Sales Index for January. The consensus is for a 0.5% increase in the index.

10:00 AM: University of Michigan's Consumer sentiment index (Final for February). The consensus is for a reading of 61.7.