US Housing Market Rapid Response Housing Starts (Dec. 2024) The large rebound in housing starts and continued resilience of building permits in December provides some support to our forecast that starts will remain solid in the first half of the year. However... 17th January 2025 · 2 mins read
US Housing Market Outlook Sales slump to drag into 2025 The potentially inflationary policy mix of the incoming Trump administration will limit the decline in mortgage rates this year, squashing hopes for a major recovery in home sales. We expect... 8th January 2025 · 14 mins read
US Commercial Property Update Five key calls for US commercial real estate in 2025 Though we think the market has bottomed, we expect a very weak recovery this year, unlike in other cycles. In fact, we think valuation falls still have further to go, leaving our forecasts generally... 7th January 2025 · 3 mins read
US Commercial Property Apartment Metros Outlook Atlanta, Dallas, Houston and Phoenix to lead the way Our apartment metro forecasts continue to show significant variation between metros, even within regions. For example, while we expect continued strong demand growth in the South – especially in... 23rd December 2024 · 7 mins read
US Housing Market Rapid Response Housing Starts (Nov. 2024) The decline in housing starts in November was entirely due to weakness in multifamily construction, which outweighed a post-hurricane rebound in single-family construction. The rise in permits to a... 18th December 2024 · 2 mins read
US Commercial Property Outlook Total returns to turn positive in 2025, but offices still weigh The backdrop to our new real estate forecasts is a small reduction in our GDP forecasts and higher level of interest rates than previously. This weighs on the outlook, and we have trimmed our total... 12th December 2024 · 20 mins read
US Commercial Property Update Post-pandemic student housing rebound to be short-lived Tight supply conditions will drive a solid rent outlook for the student housing sector over the next year. But the bigger picture remains one of slowing demand as steady declines in the college-age... 3rd December 2024 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Nov. 24) Conditions for would-be homebuyers and sellers will not improve much in the near term, with mortgage rates set to remain around 7% through the first half of next year, before modest relief arrives... 2nd December 2024 · 1 min read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q4 24) All-property values are down 18% from their mid-2022 peaks. And with appraisal-based cap rates still set to tick higher, we expect further small falls in values. That should take the peak-to-trough... 25th November 2024 · 1 min read
US Housing Market Update Where are the residential construction layoffs? Residential construction employment has been performing much better than the slump in construction over the past year might have implied. We suspect that is because job losses in the new home... 25th November 2024 · 3 mins read
US Housing Market Rapid Response Housing Starts (Oct. 2024) The decline in housing starts in October was exactly as we had expected given the hit to construction in the South from recent hurricanes and should partially reverse in November. Beyond this, we... 19th November 2024 · 2 mins read
US Housing Market Update Trump win puts brakes on housing recovery While Trump has vowed to lower mortgage rates to 3%, we expect the net effect of his policies to have the opposite effect, keeping borrowing costs higher for longer. With that in mind, we are changing... 14th November 2024 · 5 mins read
US Housing Market Rapid Response Housing Starts (Sep. 2024) The small fall in housing starts in September was entirely due to the multi-family segment, whereas single-family starts rose to a five-month high. While starts will probably weaken this month due to... 18th October 2024 · 2 mins read
US Housing Market Outlook Lower mortgage rates to gradually thaw frozen market We expect mortgage rates to continue falling, dropping below 6% in 2026. Lower borrowing costs will breathe some life into the market, but stretched affordability and tight supply due to mortgage rate... 10th October 2024 · 14 mins read
Global Commercial Property Chart Pack Global Commercial Property Chartpack (Q3 2024) All-property values have stabilised in the UK but we expect further falls elsewhere, especially in the US. Combined with a weaker office outlook, the US is set to underperform over the next couple of... 2nd October 2024 · 0 mins read
US Commercial Property Apartment Metros Outlook Miami apartment market to feel the heat over 2025-28 Apartment markets are turning a corner, and we now expect the sector to outperform over the five year forecast. As new supply drops back from the second half of next year, we expect a mixture of... 1st October 2024 · 7 mins read
