US Housing Market Data Response Existing home sale (Nov.) Ignore the usual suspects who will claim that the unexpected 6.1% m/m decline in existing home sales in November is a sign that the housing or wider economic recovery just fell off the rails. They... 22nd December 2014 · 1 min read
US Housing Market Data Response Housing Starts (Nov.) The latest homebuilding figures were a mixed bag, with starts declining in November but only because of an upward revision to October’s estimate. On balance, these data support our view that the... 16th December 2014 · 1 min read
US Housing Market Data Response Mortgage Applications (Nov.) The low level of mortgage interest rates, signs of an easing in credit conditions and steady gains in employment have yet to be reflected in the data for mortgage applications. But we are optimistic... 3rd December 2014 · 1 min read
US Housing Market Data Response New Home Sales (Oct.) The modest increase in new home sales in October, which only occurred because September’s reading was itself revised downwards, is consistent with a subdued new homes market. Nevertheless, with credit... 26th November 2014 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Sep.) The strongest month-on-month increase in house prices in seven months in September is further evidence that, after the recent slowdown, the pace of house price growth is picking up again. But while a... 25th November 2014 · 1 min read
US Housing Market Data Response Existing Home Sales (Oct.) The sixth increase in seven months took existing home sales to within a whisker of their pre-taper high in October. Existing home sales are benefitting from the decent labour market recovery and the... 20th November 2014 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) The decline in housing starts in October was entirely driven by a fall in the volatile multi-family component. With single-family starts, building permits and homebuilder confidence all rising, the... 19th November 2014 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q3) Strong job creation, falling unemployment and lower mortgage interest rates all helped the downward trend in the number of US households suffering mortgage payment problems continue into the third... 14th November 2014 · 1 min read
US Housing Market Data Response Mortgage Applications (Oct.) The decline in mortgage interest rates to a 17-month low in October provided a temporary boost to refinancing activity. Mortgage applications for home purchase were still languishing in the doldrums... 5th November 2014 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Sep.) The month-on-month increase in house prices in September suggests that the housing market is putting the very weak mid-year period behind it. But underlying rates of house price appreciation are still... 4th November 2014 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates & Case-Shiller (Q3/Aug.) Today’s housing market data revealed a further slowdown in underlying house price growth, but the outlook for rental value growth is strengthening. 28th October 2014 · 1 min read
US Housing Market Data Response New Home Sales (Sep.) New home sales stalled in September, following the previous month’s jump. But with the economic backdrop still favourable and mortgage rates low, we expect sales will resume their upwards trend soon. 24th October 2014 · 1 min read
US Housing Market Data Response Existing Home Sales (Sep.) The increase in existing home sales in September took sales activity to a 12-month high. Falling mortgage interest rates and a steadily improving labour market bode well for existing home sales from... 21st October 2014 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Aug.) The increase in the CoreLogic measure of house prices in August, although barely half the average monthly gain of 2012 and 2013, suggests that the housing market is putting the soft patch in prices... 7th October 2014 · 1 min read
US Housing Market Data Response Mortgage Applications (Sep.) The decline in mortgage interest rates to a 15-month low is doing little to revive mortgage applications. But this measure of mortgage market activity does not sit comfortably with some others, which... 1st October 2014 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jul.) The marginal rise in house prices in July, which did no more than reverse the previous month’s decline, supports our view that house price inflation will slow to 4% y/y by the end of this year. 30th September 2014 · 1 min read
