US Housing Market Data Response Existing Home Sales (Jun.) Existing home sales dropped again in June, taking them to below their pre-COVID peak. With affordability looking as stretched as it was during the Global Financial Crisis (GFC), home buyer sentiment... 20th July 2022 · 2 mins read
US Housing Market Data Response Housing Starts (Jun.) Single-family housing starts fell by a sizeable 8.1% m/m in June, following a 9.0% m/m drop in May. With rising mortgage rates continuing to weigh on demand, homebuilder confidence plummeted in July... 19th July 2022 · 2 mins read
US Housing Market Data Response Mortgage Applications (Jun.) Mortgage applications for home purchase saw a slight recovery over the course of June as mortgage interest rates eased back. But demand remains depressed compared to its pre-COVID-19 level and a... 6th July 2022 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Apr.) House price growth is finally showing signs of slowing, in line with measures of housing market activity which peaked at the start of the year. Soaring mortgage rates are shutting some buyers out of... 28th June 2022 · 2 mins read
US Housing Market Data Response New Home Sales (May) New home sales rose in May, bucking widespread signs of a housing market slowdown. But given the volatility in the data we wouldn’t put too much weight on one month’s reading. After all, new home... 24th June 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (May) Surging mortgage rates led to another fall in existing home sales in May to their lowest level since the height of the COVID-19 lockdowns two years ago. And with mortgage rates set to rise to 6.5% by... 21st June 2022 · 2 mins read
US Housing Market Data Response Housing Starts (May) Housing starts in May recorded their largest month-on-month decline since the height of the COVID-19 pandemic. A fall in housing demand due to higher mortgage rates is occurring at the same time as... 16th June 2022 · 2 mins read
US Housing Market Data Response Mortgage Applications (May) A small fall in mortgage rates over the second half of May failed to arrest a downward trend in mortgage demand, with applications for home purchase ending the month at a two-year low. And with that... 1st June 2022 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Mar.) House prices surged in March, with Case-Shiller reporting record gains on both a monthly and annual basis. That reflects the jump in housing demand seen over the turn of the year, when desperate... 31st May 2022 · 2 mins read
US Housing Market Data Response New Home Sales (Apr.) New home sales dropped sharply to a two-year low in April. But while rising mortgage rates are weighing on sales, the drop looks large given the fall in mortgage applications seen so far and may be... 24th May 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Apr.) Existing home sales fell once again in April, although for now they remain above their pre-COVID-19 level. But, with mortgage rates set to stay high and credit conditions unlikely to loosen... 19th May 2022 · 2 mins read
US Housing Market Data Response Housing Starts (Apr.) Housing starts dropped by a marginal 0.2% m/m in April, driven by the single-family sector which also saw building permits fall for the second month in a row. Housing demand is faltering due to a... 18th May 2022 · 2 mins read
US Housing Market Data Response Mortgage Applications (Apr.) The sharp rise in mortgage rates over the past couple of months, to a 12-year high of 5.37% in the middle of April, is now weighing on mortgage demand. Home purchase applications dropped to their... 4th May 2022 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Feb./Mar.) Month-on-month house price growth rose to a record high in February, as households desperate to buy before interest rates increased bid up the price of those few homes for sale. But the surge in... 26th April 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Surging mortgage interest rates pushed March existing home sales down to their lowest since the height of COVID-19-restirctions in mid-2020. We expect mortgage rates to rise further over the next year... 20th April 2022 · 2 mins read
US Housing Market Data Response Housing Starts (Mar.) Housing starts rose a by a marginal 0.3% m/m in March, driven by the volatile multifamily sector. Single-family starts saw a small fall, as did building permits. While we expect new home demand to be... 19th April 2022 · 2 mins read
