US Housing Market Data Response Mortgage Applications (May) Refinancing activity took another big hit in May as mortgage interest rates rose to their highest level this year. However, mortgage applications for home purchase held on to their recent gains and we... 3rd June 2015 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Apr.) The CoreLogic index continues to show a rapid acceleration in house price inflation. But downward revisions to previous data, as well as the recent weakness in consumer spending, mean we are inclined... 2nd June 2015 · 1 min read
US Housing Market Data Response Case-Shiller Prices / New Home Sales (Mar./Apr.) New home sales reversed much of the previous month’s decline in April. For now, this doesn’t seem to be exerting much upward pressure on price growth. Nonetheless, the conditions are in place for... 26th May 2015 · 1 min read
US Housing Market Data Response Existing Home Sales (Apr.) The drop in existing home sales in April was probably just payback for a strong rise in March rather than a sign the market is faltering again. The strengthening labour market and favourable... 21st May 2015 · 1 min read
US Housing Market Data Response Housing Starts (Apr.) Housing starts soared to a seven-year high in April, as homebuilding activity finally rebounded after the weak start to the year. Looking ahead, this should provide a platform for further steady... 19th May 2015 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q1) The latest decline in the share of households suffering mortgage payment problems provides more evidence that the housing market is slowly normalising. To the extent that it encourages lenders to ease... 6th May 2015 · 1 min read
US Housing Market Data Response Mortgage Applications (Apr.) The sharp rise in home purchase mortgage applications in April suggests that the market could finally be turning a corner after several years of stagnation. It’s early days yet, but the conditions... 6th May 2015 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Mar.) Although the CoreLogic index of house prices surged again in March, we suspect that it is somewhat overstating the true strength of the market. 5th May 2015 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates / Case-Shiller (Q1/Feb.) Although today’s data suggest house price growth slowed slightly at the start of the year, they support our view that rental inflation could soon reach a 25-year high. 28th April 2015 · 1 min read
US Housing Market Data Response New Home Sales (Mar.) The fall in new home sales in March is more likely to be a temporary payback after strong growth in previous months rather than a sign that housing activity is starting to cool again. In any case... 23rd April 2015 · 1 min read
US Housing Market Data Response Existing Home Sales (Mar.) The leap in existing home sales to an 18-month high in March shows that sales are finally gathering momentum after a slow start to 2015. Looser credit conditions and strong growth in jobs and incomes... 22nd April 2015 · 1 min read
US Housing Market Data Response Housing Starts (Mar.) The modest rise in housing starts in March suggests that homebuilding has taken longer than expected to recover from February’s weather-related collapse. Nonetheless, this simply means that there is... 16th April 2015 · 1 min read
US Housing Market Data Response Mortgage Applications (Mar.) Weak data for March show that the mortgage market continues to stagnate. However, although refinancing activity will fade as interest rates rise, the conditions are in place for stronger home purchase... 2nd April 2015 · 1 min read
US Housing Market Data Response New Home Sales (Feb.) Together with the rise in existing home sales reported yesterday, the surge in new home sales, to a seven-year high in February, appears to confirm that the weakness in housing activity at the start... 24th March 2015 · 1 min read
US Housing Market Data Response Existing Home Sales (Feb.) The modest rise in existing home sales in February suggests that the market is now recovering after a weak start to the year. Looser credit conditions and the strength of the wider economy should... 23rd March 2015 · 1 min read
US Housing Market Data Response Housing Starts (Feb.) The collapse in housing starts in February was largely a result of the unseasonably severe winter weather affecting the Northeast. With the wider economy growing strongly and credit conditions... 17th March 2015 · 1 min read
