US Housing Market Rapid Response New Home Sales (Aug.) The 8.7% m/m drop in New Home Sales in August was the largest monthly decline since September 2022 and suggests that the renewed rise in mortgage rates has caused home purchase demand to decline... 26th September 2023 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Jul.) The sixth consecutive rise in house prices in July showed that very tight supply is causing home prices to continue to rise despite sales volumes remaining weak, and suggests a second dip in house... 26th September 2023 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Aug.) The 0.7% m/m fall back in existing home sales in August reflects falling mortgage borrowing and took sales back close to the low levels recorded in January. Our view that mortgage rates will remain... 21st September 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Aug.) Housing starts fell sharply across both the single-family and multifamily sectors in August, suggesting that construction has now reached a turning point. We expect this downward trend to continue for... 19th September 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Aug.) Mortgage rates continue to weigh on demand Mortgage applications for home purchase continued to slip in August, recording the largest monthly fall since February. This latest drop has kept mortgage... 6th September 2023 · 1 min read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Jun.) The limited supply of existing homes for sale helped house prices rise for the fifth consecutive month in June, according to Case-Shiller. Given the sizeable increase in prices in Q2 and that we... 29th August 2023 · 2 mins read
US Housing Market Rapid Response New & Existing Home Sales (Jul.) New home sales rose by 4.4% m/m in July, reaching 714,000 annualised. Despite a slight fall in June, new home sales have seen sustained strength over the last year, with July’s increase leaving them... 23rd August 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Jul.) June’s rebound in mortgage applications for home purchase was short-lived as total applications fell by 1.7% in July. This pushed applications back down toward 30-year lows and was probably prompted... 2nd August 2023 · 1 min read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (May.) House prices rose for the fourth consecutive month in May according to Case-Shiller. The resurgence in prices has coincided with an uptick in home sales from February to May, in turn driven by a... 25th July 2023 · 2 mins read
US Housing Market Rapid Response Existing Home Sales (Jun.) Existing home sales edged lower, dropping by 3.3% m/m to 4,160,000 annualised in June. That decline takes sales back towards the low of 4.0m recorded in January. And despite a marginal pickup in... 20th July 2023 · 1 min read
US Housing Market Rapid Response Housing Starts (Jun.) Single-family starts fell back from their 11-month high in June, but remained substantially above the average seen in 2023 thus far as homebuilders remained optimistic. However with mortgage rates... 19th July 2023 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Jun.) A slight decline in mortgage rates allowed mortgage applications for home purchase to recover from the previous month’s lows in June. That said, applications remain below the average seen so far this... 6th July 2023 · 1 min read
US Housing Market Rapid Response New Home Sales (May) New home sales increased for the third consecutive month in May, rising by a punchy 12.2% m/m to reach 763,000 annualised, the highest level since February 2022. This leaves them firmly above pre... 27th June 2023 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Apr.) House prices rose in April by the fastest pace in close to a year, reflecting constraints to supply as high mortgage rates have discouraged existing homeowners from moving. Although prices have shown... 27th June 2023 · 2 mins read
