US Housing Market Data Response New Home Sales (Nov.) The healthy rise in new home sales in November primarily reflected a downward revision to the previous month’s reading. Nevertheless, new sales activity is still elevated compared to its pre-COVID-19... 23rd December 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Nov.) Existing home sales continued to climb higher in November, leaving sales just short of their peak last year. But we expect a tight inventory and stretched affordability as mortgage rates rise to weigh... 22nd December 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Nov.) Single-family housing starts rebounded in November, following a weak four months. While strong new home demand, limited inventory and surging house prices will incentivise builders to increase... 16th December 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Nov.) A rise in mortgage rates to an eight-month high of 3.31% by the end of November failed to dampen home purchase demand, which surged to a nine-month high. The drop in 10-year Treasury yields from the... 1st December 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Sep.) Annual house price growth fell for the first time in 16-months in September, and stretched affordability means it should continue to slow. It is too soon to say what impact the arrival of the Omicron... 30th November 2021 · 2 mins read
US Housing Market Data Response New Home Sales (Oct.) The marginal improvement in new home sales in October was flattered by a downward revision to September’s data, and the bigger picture is that sales have been fairly steady since May. Looking ahead... 24th November 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Oct.) Existing home sales eked out a small gain in October, slowing considerably from last month’s increase. With inventory at a record low, buyer sentiment in a pit and mortgage rates on the rise, we... 22nd November 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Oct.) Single-family starts dropped for the fourth consecutive month in October to a 15-month low. But we expect starts will soon turn the corner. New home demand is strong, lumber prices have eased back and... 17th November 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Oct.) Mortgage rates rose to an eight-month high in October, which drove a significant decline in refinancing activity. But home purchase demand saw a much smaller dip, and we expect it will trend down only... 3rd November 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Aug./Sep.) The FHFA reported that annual house price inflation declined in August for the first time since May 2020. Rising mortgage rates mean that slowdown will continue, and we expect it to fall back to 3% y... 26th October 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Sep.) The 7.0% m/m rise in existing home sales in September does not mark the start of an upward trend in activity. With mortgage rates rising, inventory close to record lows and home buying sentiment at 39... 21st October 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Sep.) Single-family starts and building permits have been stable over the past three months at around 1.1m annualised, as strong new home demand has run up against shortages of materials and labour. We... 19th October 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Sep.) Home purchase applications rose for the first time in six months in September, even as mortgage rates increased to a 14-week high by the end of the month. But we expect a further rise in mortgage... 6th October 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Jul.) Annual house price growth set another record in July as low mortgage rates, past stimulus payments and a tight market drove values higher. But there are tentative signs that the market is beginning to... 28th September 2021 · 2 mins read
US Housing Market Data Response New Home Sales (Aug.) An improvement in inventory helped new home sales rise for the second consecutive month in August. Admittedly, overall housing demand has eased in recent months and a rise in mortgage rates argues... 24th September 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Aug.) Existing home sales dropped back in August as booming house prices and a lack of affordable inventory shut out first-time buyers. A small recovery in home purchase mortgage demand suggests sales may... 22nd September 2021 · 2 mins read
