US Housing Market Data Response New Home Sales (Apr.) April’s 3.3% m/m rise in new home sales adds to the impression that homebuilders are starting to feel some of the benefits of improving housing market activity. Moreover, the rising proportion of new... 23rd May 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Apr.) The rise in existing home sales in April suggests that the modest recovery in housing market activity is back on track. The improvement is being driven almost entirely by cash buyers and investors... 22nd May 2012 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q1) The good news is that the number of homeowners who are delinquent on their mortgage continued to fall in the first quarter. But that didn’t change the big picture that the large overhang of homeowners... 16th May 2012 · 1 min read
US Housing Market Data Response Housing Starts (Apr.) The 2.6% m/m rise in housing starts in April, alongside the big upward revisions to earlier data, supports our view that housing is in recovery mode. Driven in particular by the multi-family sector... 16th May 2012 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Mar.) House prices rose in March and based on leading indicators, the short-term trend could strengthen further in the coming months. Over the year as a whole, however, house prices are more likely to... 8th May 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Apr.) The further rise in mortgage applications for home purchase is an encouraging sign that mortgage-dependent buyers are beginning to contribute to the improvement in home sales. But with credit... 2nd May 2012 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates (Q1) Supply conditions in the rental sector are tightening as the proportion of households renting reached a 15 year high in Q1. We think that the rental rate may rise slightly further yet, with the... 30th April 2012 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Feb/Mar) The small rise in the Case-Shiller index in February supports our view that house prices are either very close to, or already through, their trough. But with new home sales still very subdued in March... 24th April 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Mar.) March’s decline in existing home sales probably reflects the normal month by month volatility rather than renewed underlying weakness. The increase in households’ confidence in the outlook for the... 19th April 2012 · 1 min read
US Housing Market Data Response Housing Starts (Mar.) The UK has now experienced about four years of below-average productivity growth. We remain sceptical that this means that productivity growth has been permanently damaged. So we still think that a... 17th April 2012 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Feb.) Coming hot on the heels of the slightly more encouraging mortgage applications numbers released this morning, the small rise in the CoreLogic measure of house prices in February is another sign that... 4th April 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (Mar.) It’s too early to conclude that March’s increase in mortgage applications for home purchase is the start of an upward trend. But the sharp rise in average loan size certainly seems consistent with an... 4th April 2012 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jan.) The stabilisation in Case-Shiller house prices in January adds to other evidence that the housing market is on the mend. We expect that 2012 will go down in history as the year that the most severe... 27th March 2012 · 1 min read
US Housing Market Data Response New Home Sales (Feb.) The further fall in new home sales in February was probably driven by the unwinding of the boost to sales activity from the recent unseasonably warm weather. We expect continued employment growth and... 23rd March 2012 · 1 min read
US Housing Market Data Response Existing Home Sales (Feb.) The 0.9% m/m fall in existing home sales in February suggests that the boost from the good weather has started to fade. But strong demand from investors and a growing willingness of banks to lend... 21st March 2012 · 1 min read
US Housing Market Data Response Housing Starts (Feb.) The slight fall in housing starts in February leaves the recent upward trend broadly intact. Housing starts should rise further later this year on the back of continued employment growth and an... 20th March 2012 · 1 min read
