US Housing Market Rapid Response US Housing Starts (Apr. 2025) The small rebound in housing starts in April is more troubling than it appears, as it barely recoups the sharp, weather-related decline seen in March and conceals renewed weakness in both single- and... 16th May 2025 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Feb. 2025) February’s 0.4% m/m rise in house prices is still a bit stronger than the timely leading indicators - like rising months’ supply and longer average time on market - would suggest. However, along with... 29th April 2025 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Mar. 2025) The fall in existing home sales in March serves as a good reminder that more home listings alone are not enough to revive the market. Affordability also has to meaningfully improve which, based on our... 24th April 2025 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Mar. 2025) Lower mortgage rates drove a sharp rise in new home sales in March, showing that the market still has solid momentum despite inventory creeping up in the resale segment. However, with mortgage rates... 23rd April 2025 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Mar. 2025) The sharp fall in housing starts in March is less concerning than it seems at first glance, partly reflecting a normalisation in homebuilding after February’s weather-driven surge, rather than a... 17th April 2025 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Feb. 2025) After a large partly weather-driven fall in January, last month’s small rebound in new home sales was a little underwhelming but still illustrates that the market for new homes is in decent shape. 25th March 2025 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Jan. 2025) The solid 0.5% m/m rise in house prices in January and accompanying pick-up in house price inflation to 4.7%, from 4.6%, confirms that the market has stopped cooling for now. While we still expect... 25th March 2025 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Feb 2025) The small rise in existing home sales in February is unlikely to mark the start of a period of strength for buying activity given that purchase mortgage applications, which lead transactions by a... 20th March 2025 · 1 min read
US Housing Market Rapid Response US Housing Starts (Feb. 2025) The sharp rebound in housing starts in February and healthy permit issuance shows that the housing market is still holding up well. Nonetheless, with tariff concerns continuing to weigh on... 18th March 2025 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Feb. 2025) The sharp fall in home purchase mortgage applications in February confirms that the rebound in mortgage rates late last year is suppressing home purchase demand. Recent declines in Treasury yields... 5th March 2025 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Jan 2025) The large fall in new home sales in January was to be expected given the disruption from the unseasonably severe winter weather. While sales should rebound this month, elevated mortgage rates will... 26th February 2025 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Dec. 2024) The stronger 0.5% m/m rise in house prices in December suggests sellers still have the upper hand despite more homes coming onto the market and weak buyer demand. This raises the risk that we have... 25th February 2025 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Jan. 2025) The fall in existing home sales in January reflects weak deal-making at the end of last year due to the surge in mortgage rates. Given that borrowing costs have stayed above 7% since then, we expect... 21st February 2025 · 1 min read
US Housing Market Rapid Response US Housing Starts (Jan. 2025) The decline in housing starts in January is not a major concern, as it comes after a surge in starts in December and appears partly driven by the unseasonably harsh weather. Encouragingly, permit... 19th February 2025 · 2 mins read
Emerging Europe Rapid Response US-Russia talks don’t signal near-term end to the war The decision by the US and Russia to “lay the groundwork” to end the war in Ukraine marks a potentially significant turning point after three years of conflict. Negotiations will take time and the... 18th February 2025 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Jan. 2025) The steep rise in home purchase mortgage applications in January left applications at their highest level since June 2023. However, taking a step back, activity remains extremely depressed compared to... 5th February 2025 · 2 mins read
