US Commercial Property Outlook Faster bond yield rises will limit prospects for capital values The vaccine rollout and stimulus bill are unquestionably positive for the economy but may be a mixed blessing for real estate. Those two factors are probably most positive for the apartment sector... 25th March 2021 · 24 mins read
US Housing Market Data Response New Home Sales (Feb.) Severe weather, tight inventory and worsening affordability pushed new home sales down to 775,000 annualised in February. And with mortgage rates likely to rise to 4.0% by the end of the year, home... 23rd March 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Feb.) Single-family starts fell for the second consecutive month in February, as winter storms and record high lumber prices disrupted construction. But as those constraints ease, housing starts will climb... 17th March 2021 · 2 mins read
US Commercial Property Data Response Commercial Property Lending (Feb.) After a stronger than expected increase in January, commercial real estate debt fell back in February. This suggests that last month’s gain was a one-off and not the start of a rapid acceleration... 12th March 2021 · 2 mins read
US Housing Market Chart Pack Jump in mortgage rates hits housing demand Rising mortgage interest rates are starting to bring housing demand down from its recent elevated level. At 3.26% in the first week of March, mortgage rates were at an eight-month high. Coupled with... 11th March 2021 · 9 mins read
US Commercial Property Valuation Monitor Rising Treasury yields squeezing property valuations On the back of rising Treasury yields, property valuations took their first hit in eight quarters during Q4. And, with Treasury yields climbing higher since, it is likely that valuation scores will... 26th February 2021 · 6 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Dec.) The house price boom continued in December, with month-on-month gains exceeding 1.0% on the FHFA measure for the seventh consecutive month. However, rising mortgage interest rates will weigh on... 23rd February 2021 · 2 mins read
US Commercial Property Chart Pack Sector and city performance to remain uneven Fiscal and monetary stimulus have kept economic growth solid and will support a continued recovery. While this bodes well for occupier demand, structural factors have weighed heavily on the office and... 18th February 2021 · 11 mins read
US Housing Market Data Response Housing Starts (Jan.) January’s 12.2% decline in single-family housing starts reversed the solid gains seen in December. Record low inventory is supporting homebuilder confidence, and that points to a strong year for... 18th February 2021 · 2 mins read
UK Housing Market Chart Pack Buyer demand appears resilient to end of tax break There are clear signs that the end of the stamp duty holiday is causing the housing market to slow. In January the RICS reported a sharp drop in new buyer enquiries and seller instructions, and house... 16th February 2021 · 8 mins read
US Housing Market Chart Pack Rising mortgage rates to temper demand Mortgage rates rose to a 12-week high in the first week February, and a further rise in the 10-year Treasury yield to 1.5% means they will increase to around 3.2% by the end of the year. Alongside... 12th February 2021 · 9 mins read
US Housing Market Update Haus launches a new house price index As it is based on asking prices, the recently launched Common Haus Price Index (CHPI) could lead other house price indices by 1-2 months, which would make it a useful tool for forecasting short-term... 8th February 2021 · 3 mins read
US Commercial Property Data Response RICS Commercial Market Survey (Q4) Market sentiment remained close to cyclical lows, with rental and capital value expectations deeply negative for office and retail. But there are signs that the market is nearing a turning point, with... 28th January 2021 · 2 mins read
US Commercial Property Update Life science growth will support Boston offices We expect the boost in demand for life science product will support Boston’s office market. At the same time, office-to-lab conversions will limit the impact of a relatively large development pipeline... 27th January 2021 · 3 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Nov.) House price growth continued to surge in November, with both Case-Shiller and FHFA reporting strong gains. At 11% y/y, the rise in the FHFA index is the highest since records began in 1992. But the... 26th January 2021 · 2 mins read
US Housing Market Data Response Housing Starts (Dec.) Single-family starts rebounded in December, recording their largest month-on-month gain since June. While production constraints will continue to weigh on starts, we are relatively upbeat about the... 21st January 2021 · 2 mins read
