US Housing Market Data Response Housing Starts (Nov.) Housing starts rose strongly in November, building on the gains seen since the start of the year. By historical standards, homebuilding activity is still very depressed, but at least it appears to be... 20th December 2011 · 1 min read
US Housing Market Data Response Mortgage Applications (Nov.) November’s rise in mortgage applications for home purchase are a glimmer of hope that record low mortgage rates and the improving labour market are finally having some positive effect on housing... 7th December 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Oct.) After having stabilised during the summer, in the three months to October prices on the CoreLogic index fell at an annualised rate of 7.5%. This is clearly disappointing when the domestic economy... 6th December 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Q3) House prices were still falling in the third quarter and we don’t think that they’ve stabilised in this quarter either. Even when prices do reach their trough, which could be next year, a continued... 29th November 2011 · 1 min read
US Housing Market Data Response New Home Sales (Oct.) The 1.3% m/m rise in new home sales in October was not especially encouraging given that it came at the expense of a 3.3% downward revision to the previous month’s numbers. More generally, new home... 28th November 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Oct.) The modest rise in existing home sales in October may reflect the recent improvements in economic activity and the labour market. But a sustained and significant recovery in home sales is just not on... 21st November 2011 · 1 min read
US Housing Market Data Response Mortgage Delinquencies (Q3) The further fall in the share of households behind on their mortgage in the third quarter is another piece of good news for the housing market. But the delinquency rate remains high and the large... 17th November 2011 · 1 min read
US Housing Market Data Response Housing Starts (Oct.) Housing starts held broadly steady in October, leaving the modest upward trend of recent months intact. But the bigger picture is that starts are on course to total just 600,000 or so in 2011 as a... 17th November 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Sep.) The acceleration in the rate at which the CoreLogic house price index is falling reflects the slowing in the pace of job creation and wider economic growth earlier this year. Prices may well fall... 7th November 2011 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates (Q3) The modest increase in the rental vacancy rate in the third quarter does little to alter our view that rental yields will soon rise above 5.5%, comfortably beating the yields available on Treasuries... 2nd November 2011 · 1 min read
US Housing Market Data Response Mortgage Applications (Oct.) The fact that mortgage applications for home purchase fell again in October, despite 30-year fixed mortgage rates touching fresh lows, underlines our long held position that the demand for housing... 2nd November 2011 · 1 min read
US Housing Market Data Response New Home Sales (Sep.) Even after the 5.7% m/m rebound in new home sales to 313,000 annualised in September, from 296,000 the month before, purchases are still close to a record low and only a quarter of what they were... 27th October 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Aug.) The latest report on house prices from Case-Shiller suggest that the housing market has been a little bit softer than previously thought. In seasonally adjusted terms, the Case-Shiller 20-City house... 26th October 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Sep.) The modest fall in existing home sales in September shows that the housing market is struggling to gain any traction in this poor economic climate. In fact, it is hard to see home sales rising at all... 21st October 2011 · 1 min read
US Housing Market Data Response Housing Starts (Sep.) The 15% m/m rise in housing starts in September comes hot on the heels of the rise in the NAHB homebuilders' index to a 17-month high in October and suggests that housing may finally be helping the... 20th October 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Aug.) The 0.4% m/m decline in CoreLogic's measure of house prices in August may be the start of the renewed modest acceleration in price declines that we have been warning about. Prices may still stabilise... 7th October 2011 · 1 min read
