US Housing Market Chart Pack Market conditions tighten further A lack of inventory continues to drive developments in the housing market. The number of existing homes for sale dropped below 2 million in July, its lowest level in 15 years. Meanwhile, a surge in... 6th September 2016 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Jul.) The large 0.9% m/m gain in house prices reported by CoreLogic in July is likely to be revised down in due course. But with inventory levels at 15-year lows, the conditions are in place for house price... 6th September 2016 · 1 min read
UK Housing Market Update Construction PMI does not change the outlook for housebuilding The rebound in the construction PMI, and, in particular, the housebuilding component, is a welcome development. But on its own, it will not prevent housebuilding from taking a backwards step in the... 2nd September 2016 · 1 min read
UK Economics Update Brexit Watch: Post-referendum hit eased in August While this week’s data still clearly point to a slowdown in the economy following the leave vote, they also suggest that conditions improved in August following the immediate post-referendum shock... 2nd September 2016 · 1 min read
Australia & New Zealand Economics Weekly Housing auction rates provide only part of the picture Auction clearance rates are a timely and useful barometer of housing activity, but since they capture less than a third of all sales they don’t provide a full picture. While Australia’s housing market... 2nd September 2016 · 1 min read
US Housing Market Update Can land shortages explain faltering housing starts? According to an NAHB survey, land shortages are at their most severe since records began in 1997. Low interest rates may be making landowners reluctant to sell, while labour shortages will be curbing... 31st August 2016 · 1 min read
UK Housing Market Data Response Nationwide House Prices (Aug. 16) While data from Nationwide point to resilient house price growth in August, leading indicators suggest that this won’t last. Indeed, with house price expectations muted and the economy set to weaken... 31st August 2016 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jun. 16) At the national level, house prices rose only modestly in June according to Case-Shiller. But, with market conditions tightening, we suspect gains will accelerate from here and for now see no reason... 30th August 2016 · 1 min read
UK Economics Update Household Borrowing Monitor (Jul.) July’s household borrowing figures highlighted that the housing market continued to cool following the EU referendum and there were signs that consumers’ appetite for debt took a bit of a hit as well... 30th August 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jul. 16) Mortgage lending cooled in July, as the referendum hurt buyer confidence. Uncertainty has lifted somewhat since. But buyers will stay cautious as the economic backdrop softens, helping to keep lending... 30th August 2016 · 1 min read
US Housing Market Focus Why is the inventory of homes for sale so low? The key driver of low levels of existing home inventory looks to be movers deciding to keep hold of their previous home rather than selling it. In turn, that behaviour has been encouraged by ultra-low... 26th August 2016 · 1 min read
US Economics Weekly Weakness of residential investment unlikely to last After providing a small but valuable contribution to growth over the past couple of years, residential investment unexpectedly became a drag in the second quarter, contracting at a 7.7% annualised... 26th August 2016 · 1 min read
US Housing Market Data Response Existing Home Sales (Jul. 16) A lack of inventory is constraining existing home sales, with July’s drop reversing much of the growth seen in the previous three months. Indeed, the number of existing homes for sale is now at a 15... 26th August 2016 · 1 min read
UK Housing Market Update Are rental affordability constraints starting to bite The growth rate of private residential rents has slowed in recent months, driven primarily by London. We think this is a sign that affordability constraints are starting to bite in the capital. But... 26th August 2016 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Jul.) Mortgage approvals for house purchase weakened in July, as the effect of the Brexit vote knocked confidence. And while buyer sentiment has partially rebounded, lending is set to stay weak until the... 24th August 2016 · 1 min read
US Housing Market Data Response New Home Sales (Jul. 2016) Against expectations, new home sales surged in July to reach their highest level in over eight years. But that has caused market conditions to tighten even further. And, with housing starts stalling... 23rd August 2016 · 1 min read
