US Housing Market Update Tight supply limits threat from rising construction The current surge in homes under construction has few parallels with the building boom that preceded the house price crash in the late 2000s. The build-up of homes under construction has largely been... 29th July 2022 · 3 mins read
US Housing Market Data Response Case-Shiller/FHFA & New Home Sales (May/Jun.) Case-Shiller reported a slowdown in month-on-month house price growth in May, adding to the signs that the housing market is cooling rapidly. The annual growth rate dropped below 20% and the sharp... 26th July 2022 · 2 mins read
US Housing Market Data Response Existing Home Sales (Jun.) Existing home sales dropped again in June, taking them to below their pre-COVID peak. With affordability looking as stretched as it was during the Global Financial Crisis (GFC), home buyer sentiment... 20th July 2022 · 2 mins read
US Housing Market Data Response Housing Starts (Jun.) Single-family housing starts fell by a sizeable 8.1% m/m in June, following a 9.0% m/m drop in May. With rising mortgage rates continuing to weigh on demand, homebuilder confidence plummeted in July... 19th July 2022 · 2 mins read
US Housing Market Chart Pack Housing activity contracts even as rates stabilise The upward trend in mortgage rates took a breather over the past month, but that didn’t provide much of a boost to housing market activity. Existing home sales have fallen for four months in a row... 15th July 2022 · 9 mins read
US Commercial Property Outlook Southern metros to outperform Since the release of our previous Apartment Metro Outlook three months ago the interest rate environment has become more negative for real estate, and we now expect yields to rise in many metros this... 12th July 2022 · 11 mins read
US Commercial Property Outlook Office Metro Outlook In light of the deterioration in the economic environment, our office metro forecasts have been downgraded across the board. Those downgrades are driven by a substantial shift in our yield view, which... 1st July 2022 · 14 mins read
UK Commercial Property Data Response Lending to commercial property (May.) Lending activity in the commercial property sector cooled in May, consistent with the weaker investment data seen in recent months. Looking ahead, we expect rising interest rates and high property... 1st July 2022 · 2 mins read
US Commercial Property Outlook All-property returns to fall to zero next year as values slide The dramatic shift in the interest rate environment over the first half of the year means that we have brought forward (and increased) our forecasts for yield rises. Property valuations now look as... 21st June 2022 · 24 mins read
US Commercial Property Data Response Commercial Property Lending (May.) Commercial real estate debt continued to grow at a decent pace in May, in line with the recent strength in investment activity. However, we expect a weaker economic backdrop to weigh on commercial... 13th June 2022 · 2 mins read
US Housing Market Chart Pack Housing demand falls as mortgage rates rise Housing activity is slowing in the face of higher mortgage interest rates. Mortgage applications for home purchase dropped to a two-year low in May, existing homes sales have declined in each of the... 9th June 2022 · 9 mins read
Europe Commercial Property Valuation Monitor Office sector joins industrial as overvalued in Q1 Higher alternative asset yields drove a sharp deterioration in European property valuations in Q1. Valuation scores declined across all sectors, though retail remained in fair value territory. With... 9th June 2022 · 6 mins read
US Commercial Property Valuation Monitor Biggest quarterly drop in property valuations on record There was a huge deterioration in property valuations in Q1, reflecting the sharp rises in alternative asset yields recorded since the start of the year. The size of those yield rises mostly dwarfed... 31st May 2022 · 7 mins read
US Commercial Property Chart Pack Metro upturn continues, but capital growth set to slow The metro level data confirmed another strong quarter for commercial real estate in Q1, though with the usual wide range of performance across sectors and cities. For offices, rents in the larger... 24th May 2022 · 6 mins read
Non-Euro Europe Commercial Property Chart Pack Scandinavia & Switzerland: Value gains set to slow The recovery continued in the Scandinavian and Swiss economies and their property markets in Q1. It was a record first quarter for investment in Scandinavia. And annual capital value growth was robust... 24th May 2022 · 5 mins read
US Commercial Property Chart Pack Another punchy quarter, but capital growth set to slow Setting aside the drag from net exports on GDP growth, Q1 was another strong quarter for both the domestic economy and commercial real estate markets, highlighted by a record first quarter for... 20th May 2022 · 9 mins read
