US Housing Market Rapid Response US Mortgage Applications (June 2024) The decline in mortgage rates back below 7% helped mortgage applications for home purchase to rise by 5.1% m/m in June. That gain was tiny in the context of the ongoing three-year slump in... 3rd July 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (May 2024) The 11.3% m/m decline in new home sales in May will steal all the headlines, but it largely reflected a significant upward revision to the April sales number, leaving us somewhat confused at the... 26th June 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Apr. 2024) The second consecutive moderate 0.3% m/m rise in house prices in April could be a sign that the increase in home listings this year has cooled the market. We think rising supply will eventually be... 25th June 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (May 2024) Existing home sales were essentially flat in May which is somewhat puzzling given that pending home sales and home purchase mortgage applications, which lead transactions by a month, both fell... 21st June 2024 · 1 min read
US Housing Market Rapid Response Housing Starts (May 2024) The drop in housing starts in May is consistent with the recent slowdown in permit issuance, pointing to construction continuing to falter this year. 20th June 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (May 2024) The decline in mortgage rates in May was not enough to stop home purchase mortgage applications from falling to a three-month low. The chances of a quick turnaround in June currently look slim, as the... 5th June 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Mar. 2024) The solid 0.3% m/m rise in house prices in March suggests that competition among buyers for the limited number of second-hand homes on the market remains strong. We expect that to continue for the... 28th May 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Apr. 2024) The spike in mortgage rates to 7.3% in April caused a sizeable drop in new home sales, as buyers decided to wait for a chance of getting a lower rate. We think this will partly reverse in May as... 23rd May 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Apr. 2024) The drop in existing home sales in April will be followed up by further falls in the coming months, supporting our view that the recovery in transactions we expect this year will be concentrated in... 22nd May 2024 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Apr. 2024) The modest rebound in housing starts in April confirmed that the slump the month before was a weather-related blip. But the recovery wasn’t as strong as we had anticipated, which potentially casts... 16th May 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Apr. 2024) The small rebound in mortgage demand in March proved short-lived, as higher borrowing costs caused home purchase mortgage applications to drop 2.3% m/m in April. But the 10-year Treasury yield’s... 8th May 2024 · 2 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Feb. 2024) The substantial shortage of existing homes for sale fueled a robust 0.4% m/m rise in house prices in February, consistent with our above-consensus call that house price growth will end 2024 at 5% y/y. 30th April 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Mar. 2024) The large uptick in new home sales in March is consistent with our above-consensus prediction that sales of new homes will climb to 750,000 by year end. 23rd April 2024 · 2 mins read
US Housing Market Rapid Response US Existing Home Sales (Mar. 2024) The fall in existing home sales in March was triggered by mortgage rates climbing back above 7% the month before. Even so, transactions remain above the trough at the end of last year, consistent with... 18th April 2024 · 2 mins read
US Housing Market Rapid Response US Housing Starts (Mar. 2024) Housing starts weren’t able to build on the strong performance of the previous month in March, falling by the largest monthly amount since April 2020 in the early days of the pandemic. Although some... 16th April 2024 · 2 mins read
US Housing Market Rapid Response US Mortgage Applications (Mar. 2024) Mortgage rates dipping back below 7% helped mortgage applications for home purchase edge slightly higher in March. But recent increases in the 10-year Treasury yield point to mortgage rates climbing... 3rd April 2024 · 2 mins read
