UK Housing Market Update Longer mortgage terms ease affordability constraints Borrowing over a longer period significantly reduces monthly mortgage payments. So the accelerated shift towards loans with a term of 35 or 40 years rather than 25 has probably helped to mitigate the... 15th May 2023 · 3 mins read
UK Housing Market Data Response RICS Residential Market Survey (Apr.) In contrast to signs of a stabilisation in house prices and sales volumes in other indicators, the RICS survey remained downbeat in April. In particular, the renewed fall in the new buyer enquiries... 11th May 2023 · 3 mins read
US Housing Market Chart Pack Housing market resilient to banking sector turmoil The US housing market has been largely unaffected by the banking sector turmoil. Indeed, buyer sentiment rose to an 11-month high in April and activity appears to have bottomed out. Tighter credit... 10th May 2023 · 10 mins read
US Housing Market Update Tight supply supporting house prices While home sales have plummeted, house prices have fallen just 3% so far and eked out a small gain in February. We think this reflects the role that tight supply is playing in this downturn, with the... 5th May 2023 · 3 mins read
US Housing Market Data Response Mortgage Applications (Apr.) The slight rise in mortgage applications in April left them little changed from their recent lows, pointing to further near-term weakness in sales. While we expect affordability will gradually improve... 3rd May 2023 · 2 mins read
UK Housing Market Update Takeaways from our housing roundtables Alongside the publication of our Q2 UK Housing Outlook this week, we held a series of roundtable meetings for clients in London. Here we sum up our thoughts on three key questions which recurred... 28th April 2023 · 4 mins read
US Housing Market Update Recession to weigh on housing recovery The housing market will face growing headwinds from tighter credit conditions, slowing income growth and rising unemployment as the economy enters a recession this year. That will offset some of the... 27th April 2023 · 3 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (Feb./Mar.) New home sales jumped in March and house prices increased 0.2% m/m in February. The continued resilience of the housing market means the risk to our forecast of an 8% drop in house prices are now to... 25th April 2023 · 3 mins read
US Housing Market Data Response Existing Home Sales (Mar.) Existing home sales edged lower in March rounding off the weakest start to the year in over a decade. While the lending data point to further declines in April, we expect mortgage rates will fall back... 20th April 2023 · 2 mins read
US Housing Market Data Response Housing Starts (Mar.) Single-family starts rose for the second consecutive month in March which adds weight to the view that starts have bottomed out. Building permits and homebuilder confidence also edged higher. But... 18th April 2023 · 2 mins read
US Housing Market Data Response New Home Sales (Feb.) The modest recovery in new home sales continued in February reflecting support from price reductions and incentives offered by homebuilders, as well as a tight existing home market pushing buyers to... 23rd March 2023 · 2 mins read
US Housing Market Data Response Existing Home Sales (Feb.) Existing home sales rebounded in February as buyers took advantage of falling mortgage rates. Weak mortgage applications data point to sales dropping back again in March, but with turmoil in the... 21st March 2023 · 2 mins read
US Housing Market Data Response Housing Starts (Feb.) Single-family housing starts continued their weak start to the year in February with a marginal month-on-month increase. While forward looking indicators appear to have turned a corner, homebuilders... 16th March 2023 · 2 mins read
US Housing Market Chart Pack Rebound in mortgage rates hits housing demand Stronger-than-expected economic data in January led to a rebound in market interest rate expectations and a jump in mortgage rates from 6.2% at the start of February to 6.8% in March. That drove... 14th March 2023 · 10 mins read
US Housing Market Update Poor affordability key to bigger price falls in the West In this Update we examine the implications of affordability for house prices at the market level. Despite sunbelt markets seeing the strongest house price growth over the past couple of years... 6th March 2023 · 3 mins read
US Housing Market Data Response Mortgage Applications (Feb.) Stronger-than-expected economic data led to a resurgence in mortgage rates in February, which put a stop to a tentative recovery in mortgage applications for home purchase. This points to sales... 1st March 2023 · 2 mins read
