US Housing Market Rapid Response Mortgage Applications (Jan. 2024) The average mortgage rate in January was unchanged from the month before, but that didn’t prevent mortgage applications for home purchase rising for a third consecutive month. And with interest rates... 7th February 2024 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Nov. 2023) The marked slowdown in house prices in November was the first sign of a response in prices to the spike in mortgage rates a month earlier. 30th January 2024 · 2 mins read
US Housing Market Rapid Response New Home Sales (Dec. 2023) New home sales rebounded in December, reversing nearly all of their decline in the previous month when mortgage borrowing costs were much closer to their 8% peak. 25th January 2024 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Dec. 2023) A drop in existing home sales in December confirmed that they fell by 20% y/y in 2023 as a whole to their lowest level since 1995. (See Chart 1.) Lack of supply was the main reason existing home sales... 19th January 2024 · 2 mins read
US Housing Market Rapid Response Housing Starts (Dec. 2023) Housing starts fell last month reversing almost half of November’s huge weather-driven 11% m/m increase, but remained stronger than they were in the summer. The fall on the month was something of a... 18th January 2024 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Dec. 2023) Mortgage rates dropping below 7% were the catalyst for a marked uptick in mortgage applications for home purchase in December. 3rd January 2024 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Nov. 2023) Existing home sales recovered somewhat in November from the 13-year low reached in October, as falling mortgage rates brought more buyers and sellers into the market. That chimes with the pickup in... 20th December 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Nov. 2023) The extreme lack of existing inventory on the market continued to support newbuild demand and construction activity in November, as single-family starts jumped to an 18-month high. The rise is at odds... 19th December 2023 · 3 mins read
US Housing Market Rapid Response Mortgage Applications (Nov. 2023) Falling mortgage rates sparked a modest uptick in mortgage applications for home purchase in November. Recent falls in Treasury yields mean further falls in mortgage rates are imminent, so the trough... 6th December 2023 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Sep. 2023) Another large monthly gain in house prices in September suggests that the extremely limited supply of existing homes for sale continued to outstrip the drag on demand from high mortgage rates. This... 28th November 2023 · 3 mins read
US Housing Market Rapid Response New Home Sales (Oct. 2023) New home sales reversed most of their rise in the previous month as mortgage rates spiked to 8%. However, we don’t think this marks an end to the strength in new homes sales. That’s because the supply... 27th November 2023 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Oct. 2023) Existing home sales fell sharply to a fresh 13-year low in October as the 8% peak in mortgage rates in the same month caused buyers and sellers to withdraw from the market. Mortgage applications for... 21st November 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Oct. 2023) With homebuilders encouraged by the recent surge in buyers entering the new homes market due to a lack of existing inventory, housing starts and permits edged slightly higher in October. 17th November 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Oct. 2023) After their weakest month in 28 years, there were signs that mortgage applications for home purchase bottomed out at the end of October. Mortgage applications for home purchase dropped 9.1% m/m across... 8th November 2023 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Aug. 2023) Another large gain in house prices in August suggests that the extremely limited supply of existing homes for sale continued to outweigh high mortgage rates. We think monthly gains in house prices... 31st October 2023 · 3 mins read
US Housing Market Rapid Response New Home Sales (Sep. 2023) Extraordinarily limited supply in the existing homes market continued to drive buyers to new homes in September. The 12.4% m/m rise in new home sales in September took them to 759,000 annualised... 25th October 2023 · 2 mins read
