This Week: New home sales, Apple earns, consumer spending

Apr 24, 2022, 9:10 PM | Updated: 9:26 pm

A look at some of the key business events and economic indicators upcoming this week:


The Commerce Department issues its March tally of new U.S. home sales Tuesday.

Economists forecast that sales slowed last month to a seasonally adjusted annual rate of 760,000 homes. That would follow February’s pace of 772,000 homes. Demand for newly built homes has been robust, aided by an ultra-low supply of previously occupied homes on the market. But rising interest rates and home prices are increasingly pushing the limits of affordability for would-be buyers.

New home sales, seasonally adjusted annual rate, by month:

Oct. 667,000

Nov. 753,000

Dec. 860,000

Jan. 788,000

Feb. 772,000

March (est.) 760,000

Source: FactSet


Wall Street expects another stellar quarterly report card from Apple.

Analysts predict the company’s earnings and revenue increased in the January-March quarter versus a year earlier. That would echo the company’s results in the final quarter of 2021, thanks to strong holiday season demand for its iPhones and other popular devices. The company shook off the supply shortages that had curtailed production of its devices earlier in 2021. Apple reports its fiscal second-quarter results Thursday.


The Commerce Department serves up its March snapshot of consumer spending Friday.

The report is closely monitored by the Federal Reserve as a barometer of inflation. The central bank has begun raising interest rates and is expected to continue doing so in coming months in a bid to fight surging inflation, which is beginning to dampen consumer spending. Squeezed by rising prices, consumers increased their spending by just 0.2% in February, down from a much larger 2.7% gain in January.

Consumer spending, monthly percent change, seasonally adjusted:

Sept. 0.6

Oct. 1.4

Nov. 0.5

Dec. -0.9

Jan. 2.7

Feb. 0.2

Source: FactSet

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


(Facebook Photo/City of San Luis, Arizona)...
Associated Press

San Luis authorities receive complaints about 911 calls going across border

Authorities in San Luis say they are receiving more complaints about 911 calls mistakenly going across the border.
5 days ago
(Pexels Photo)...
Associated Press

Daylight saving time begins in most of US this weekend

No time change is observed in Hawaii, most of Arizona, Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and the Northern Marianas.
13 days ago
Mexican army soldiers prepare a search mission for four U.S. citizens kidnapped by gunmen in Matamo...
Associated Press

How the 4 abducted Americans in Mexico were located

The anonymous tip that led Mexican authorities to a remote shack where four abducted Americans were held described armed men and blindfolds.
13 days ago
Tom Brundy points to a newly built irrigation canal on one of the fields at his farm Tuesday, Feb. ...
Associated Press

Southwest farmers reluctant to idle farmland to save water

There is a growing sense that fallowing will have to be part of the solution to the increasingly desperate drought in the West.
20 days ago
A young bison calf stands in a pond with its herd at Bull Hollow, Okla., on Sept. 27, 2022. The cal...
Associated Press

US aims to restore bison herds to Native American lands after near extinction

U.S. officials will work to restore more large bison herds to Native American lands under a Friday order from Interior Secretary Deb Haaland.
20 days ago
Children play in a dried riverbed in Flassans-sur-Issole, southern France, Wednesday, March 1, 2023...
Associated Press

Italy, France confront 2nd year of western Europe drought

ROME (AP) — Bracing for Italy’s second consecutive year of drought for the first time in decades, Premier Giorgia Meloni huddled with ministers Wednesday to start mapping out an action plan Wednesday, joining France and other nations in western Europe grappling with scant winter rain and snow. Meloni and her ministers decided to appoint an […]
22 days ago

Sponsored Articles

Fiesta Bowl Foundation

Celebrate 50 years of Vrbo Fiesta Bowl Parade magic!

Since its first production in the early 1970s, the Vrbo Fiesta Bowl Parade presented by Lerner & Rowe has been a staple of Valley traditions, bringing family fun and excitement to downtown Phoenix.
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
Day & Night Air Conditioning, Heating and Plumbing

Prep the plumbing in your home just in time for the holidays

With the holidays approaching, it's important to know when your home is in need of heating and plumbing updates before more guests start to come around.
This Week: New home sales, Apple earns, consumer spending