US Housing Market Data Response New Home Sales (Jan.) Price reductions and generous incentives offered by homebuilders helped new home sales continue to outperform the wider market in January. But a renewed rise in mortgage rates will weigh on new home... 24th February 2023 · 2 mins read
UK Housing Market Chart Pack Few signs of market bottoming out The survey data suggest that the modest decline in mortgage rates since October falls a long way short of what would be required for house prices to bottom out. The fall in market interest rates since... 16th February 2023 · 10 mins read
US Housing Market Data Response New Home Sales (Dec.) The small rise in new home sales in December confirmed that the new build sector is holding up better than the wider market. This likely reflects builders offering generous incentives to attract... 26th January 2023 · 2 mins read
UK Housing Market Outlook Activity to slump as prices adjust to higher rates 2023 will be the most difficult year for the housing market since 2008. Mortgage rates remain very high by the standards of recent years and can’t drop materially until the Bank of England shifts from... 26th January 2023 · 25 mins read
London Housing Markets Chart Pack Central London leads housing market slowdown London house prices are likely to continue to underperform even if the shift in buyer demand away from the capital due to remote working ends. More stretched house prices in the capital prior to the... 3rd January 2023 · 7 mins read
US Housing Market Data Response Existing Home Sales (Nov.) Existing home sales experienced their largest drop in nine months in November, as October’s spike in mortgage rates fed through to sales. But mortgage rates have since dropped back and are likely to... 21st December 2022 · 2 mins read
UK Housing Market Chart Pack Jump in interest rates takes its toll The return of inflation for the first time in the inflation-targeting era has led to the biggest jump in Bank Rate and mortgage rates since the late 1980s. The steady downward trend in mortgage rates... 19th December 2022 · 10 mins read
UK Housing Market Update House prices start to fall: your questions answered Following the Nationwide data showing a larger-than-expected fall in house prices in November, we hosted an online Drop-In on 1st December to discuss how far prices could fall and what the downturn... 2nd December 2022 · 4 mins read
US Housing Market Data Response New Home Sales (Oct.) New home sales have levelled off in recent months, but leading indicators support our view that sales will fall a little further by the end of the year. Looking ahead, we expect stretched... 23rd November 2022 · 2 mins read
US Housing Market Outlook Sales to slump and prices to fall We expect mortgage rates will hold close to 7% over the remainder of the year, leaving affordability at its worst since 1985. That will lead to another sharp fall in activity. As the economy dips into... 8th November 2022 · 18 mins read
UK Housing Market Outlook Spike in mortgage rates to trigger price correction The jump in market interest rates following the ill-advised “mini” budget has forced quoted mortgage rates up to over 5%, a level not seen since 2009. That will turn the slowdown in demand already... 31st October 2022 · 25 mins read
US Housing Market Data Response New Home Sales (Sep.) The 10.9% m/m fall in new home sales in September partly reversed last month’s surprise jump. But they are still out of lockstep with both buyer traffic and mortgage applications. Those indicators... 26th October 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Sep.) The 1.5% m/m fall in existing home sales in September showed that rising mortgage rates continued to weigh on housing market activity. Given the recent step-down in mortgage applications as mortgage... 20th October 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Aug.) We doubt the smaller 0.4% m/m fall in existing home sales in August marks a floor for activity. Indeed, it is line with the levelling off in mortgage demand seen in July as the rise in mortgage rates... 21st September 2022 · 2 mins read
