Seeking Alpha reports on the week ahead:
This week's economic calendar includes some key data on the housing market and a few other major reports. The debate about the strength of the U.S. economy continues. The housing market is an important contributor to the economy. As we enter the key season for real estate many will be asking:
The economic calendar has mostly secondary reports again this week. Friday's stronger economic data only intensified the debate, as the market reacted negatively. This week features three important housing reports and two of lesser significance. Since springtime brings higher expectations for this sector, I expect more attention than usual. The punditry will be asking:
Is it Springtime for Housing?
Attention focuses on housing with some frequency since it is important to the economy. Wells Fargo notes that residential investment rose 14.8% in the past year, contributing 0.5% to the Q1 GDP growth (which coincidentally was 0.5%). Last year the National Association of Home Builders calculated that housing was over 15% of GDP. The impact is not just home sales, but also remodeling.