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
US Housing Market Rapid Response Existing Home Sales (Sep. 2023) Existing home sales fell to their lowest level since October 2010 in September as the increase in mortgage rates to a fresh 23-year high caused buyers and sellers to withdraw from the market. A... 19th October 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Sep. 2023) Single-family starts edged higher in September to 963,000 annualised from 933,000 in August and building permits also rose to a 15-month high. However, we don’t think this means single-family... 18th October 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Sep. 2023) Rising mortgage rates caused mortgage applications for home purchase to slip to a fresh 28-year low in September. With mortgage rates edging above 7.5% in the last week of the month as Treasury yields... 4th October 2023 · 2 mins read
US Housing Market Rapid Response New Home Sales (Aug.) The 8.7% m/m drop in New Home Sales in August was the largest monthly decline since September 2022 and suggests that the renewed rise in mortgage rates has caused home purchase demand to decline... 26th September 2023 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Jul.) The sixth consecutive rise in house prices in July showed that very tight supply is causing home prices to continue to rise despite sales volumes remaining weak, and suggests a second dip in house... 26th September 2023 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Aug.) The 0.7% m/m fall back in existing home sales in August reflects falling mortgage borrowing and took sales back close to the low levels recorded in January. Our view that mortgage rates will remain... 21st September 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Aug.) Housing starts fell sharply across both the single-family and multifamily sectors in August, suggesting that construction has now reached a turning point. We expect this downward trend to continue for... 19th September 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Aug.) Mortgage rates continue to weigh on demand Mortgage applications for home purchase continued to slip in August, recording the largest monthly fall since February. This latest drop has kept mortgage... 6th September 2023 · 1 min read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Jun.) The limited supply of existing homes for sale helped house prices rise for the fifth consecutive month in June, according to Case-Shiller. Given the sizeable increase in prices in Q2 and that we... 29th August 2023 · 2 mins read
US Housing Market Rapid Response New & Existing Home Sales (Jul.) New home sales rose by 4.4% m/m in July, reaching 714,000 annualised. Despite a slight fall in June, new home sales have seen sustained strength over the last year, with July’s increase leaving them... 23rd August 2023 · 2 mins read
