US Housing Market Data Response Mortgage Applications (May.) Home purchase mortgage demand continued its downward trend in May and is now broadly in line with its pre-virus level. Easing credit conditions and the reopening of the economy will provide some... 2nd June 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Mar./Apr.) House price growth accelerated in March, reaching a record high of 13.9% y/y on the FHFA measure. But there are signs that the boom in prices is now weighing on housing demand and activity. New home... 25th May 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Apr.) Existing home sales recorded another decline in April and are down 13% from the peak last October. Home sales are being constrained by record low inventory, which will continue to weigh on housing... 21st May 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Apr.) Single-family starts dropped back in April and continue to underperform building permits. This adds to the evidence that high lumber and other material prices are constraining housing starts. But... 18th May 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Apr.) Despite a small fall in mortgage interest rates, home purchase and refinance demand edged back in April. The reopening of the economy and easing credit conditions will provide some support for housing... 5th May 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Feb.) House prices continued to climb in February, with Case-Shiller and the FHFA both reporting growth of around 12% y/y. But while annual growth rates are at record highs on the FHFA measure, month-on... 27th April 2021 · 2 mins read
US Housing Market Data Response New Home Sales (Mar.) Following weather-related disruption in February, new home sales jumped in March to close to a 15-year high. A gradual rise in mortgage interest rates this year will weigh on demand to some extent... 23rd April 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Tight inventory pushed existing home sales down to a seven-month low in March. Indeed, the number of homes for sale is at record lows and this will continue to constrain home sales this year. What’s... 22nd April 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Mar.) Homebuilding recovered quickly from February’s adverse weather, with single-family starts rising to close to a 15-year high. If it were not for constraints on production, including soaring lumber... 16th April 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Mar.) Home purchase mortgage applications edged out a small gain in March but, even as the economy reopens, we doubt that is a sign that home demand will see additional gains this year. Record low inventory... 7th April 2021 · 2 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Jan.) House prices made further strong gains in January, although there are tentative signs that month-on-month growth is starting to ease. With mortgage rates now rising, and set to increase further over... 30th March 2021 · 2 mins read
US Housing Market Data Response New Home Sales (Feb.) Severe weather, tight inventory and worsening affordability pushed new home sales down to 775,000 annualised in February. And with mortgage rates likely to rise to 4.0% by the end of the year, home... 23rd March 2021 · 2 mins read
US Housing Market Data Response Existing Home Sales (Feb.) The boom in housing market activity started to moderate in February, with existing home sales recording a substantial drop. Record low inventory will be constraining activity, as will worsening... 22nd March 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Feb.) Single-family starts fell for the second consecutive month in February, as winter storms and record high lumber prices disrupted construction. But as those constraints ease, housing starts will climb... 17th March 2021 · 2 mins read
US Housing Market Data Response Mortgage Applications (Feb.) The mortgage market came off the boil in February, with home purchase applications recording their largest month-on-month decline since the height of the pandemic last April. A rise in mortgage... 3rd March 2021 · 2 mins read
US Housing Market Data Response New Home Sales (Jan.) New home sales rose for the second consecutive month in January to 923,000 annualised. But rising mortgage interest rates and tight inventory point to a slowdown over 2021. Indeed, mortgage... 24th February 2021 · 2 mins read
