Another large monthly gain in house prices in September suggests that the extremely limited supply of existing homes for sale continued to outstrip the drag on demand from high mortgage rates. This was a stronger outturn than we expected and challenges our view that the pace of monthly gains will soften over the remainder of the year. Nevertheless, we still expect that to happen given that today’s data are extremely backward-looking and are yet to capture the response in prices to October’s peak in mortgage rates.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services