US Housing Market Update Will a flood of new apartments boost vacancies? The hit to apartment absorption from the coronavirus has occurred at the same time as a large number of new units are set to enter the market. Even with current tenants staying put, that raises the... 1st July 2020 · 3 mins read
US Housing Market Update Inventory outlook worsens A drop in house price expectations has helped boost demand from some looking to pick up a bargain, but it has also encouraged sellers to delay listing until the price outlook improves. Indeed, selling... 18th June 2020 · 3 mins read
US Housing Market Update Will the rental market bounce back? The factors that drove the resurgence in home purchase mortgage demand, including record low mortgage rates, the need for more space and the anticipation of finding a bargain, will not give a similar... 11th June 2020 · 3 mins read
US Housing Market Update Why have new home sales shrugged off COVID? An incentive to sell to support cash-flow, relatively affluent buyers and a streamlined selling process help explain why new home sales increased in April even as the unemployment rate hit a record... 28th May 2020 · 3 mins read
US Housing Market Update Starts well-placed to recover as country reopens In April, single-family housing starts saw their largest month-on-month drop since records began in 1970. However, we are relatively optimistic that starts will recover as more builders are able to... 20th May 2020 · 3 mins read
US Housing Market Update House price expectations turn negative Consumers now expect house prices to fall 2% over the next 12-months, the first negative reading since 2011. That will cut the amount buyers are willing to pay and, alongside a drop in rents, supports... 14th May 2020 · 3 mins read
US Housing Market Update Forbearance not a path to foreclosure The surge in mortgage borrowers seeking forbearance stands in contrast to a more modest rise in missed rental payments and suggests many have requested mortgage holidays as an insurance policy, rather... 7th May 2020 · 3 mins read
US Housing Market Update COVID to halt rise in homeownership Strong new home sales in 2019 helped the under-35 homeownership rate jump to a nine-year high in the first quarter. But, with the disruption from COVID set to cut home sales in half in the second... 30th April 2020 · 3 mins read
US Housing Market Update Are HELOC draws set to surge? Uptake of home equity lines of credit surged during the financial crisis, as households made use of existing facilities to replace lost income. But, even as the unemployment rate reaches a record high... 29th April 2020 · 3 mins read
Global Economics Update House prices to fall, but not crash Unlike in previous downturns, residential property has not been the root cause this time. Even so, house prices will not escape this recession unscathed. If policy support proves effective, if... 29th April 2020 · 4 mins read
US Housing Market Update Government support will prevent surge in rent arrears Jobless claims have reached 26 million, but by the end of last week the share of apartment tenants making a full or partial rental payment in April was down by just four percentage points compared to... 24th April 2020 · 3 mins read
US Housing Market Update Early data indicate big, but short-lived, housing impact The largest fall in new home buyer traffic on record in April supports our below-consensus call for a 50% q/q drop in new home sales in the second quarter. But the share of households seeing now as a... 17th April 2020 · 3 mins read
US Housing Market Update Residential REITs not pointing to house price crash The 27% drop in the price of residential REITs since late February is not a sign that house prices are set for a significant fall. The past relationship with house prices has been poor and on an... 9th April 2020 · 3 mins read
US Housing Market Update Housing starts to suffer permanent loss from COVID Single-family housing starts were in a strong position prior to the arrival of the coronavirus and builders would, in normal circumstances, look through what is anticipated to be a temporary dip in... 2nd April 2020 · 3 mins read
US Housing Market Update House prices to fall by 4% The collapse in home sales, and hit to households’ income and savings, means house prices will fall back. But lender forbearance and the fiscal package will prevent a surge in forced sellers, and with... 27th March 2020 · 3 mins read
US Housing Market Update Fiscal package will prevent record high delinquencies A surge in the unemployment rate to 12% in the second quarter will put upward pressure on the mortgage delinquency rate, but an additional $600 week in unemployment insurance should keep the rate... 25th March 2020 · 3 mins read
