US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Dec. 2023) Another small rise in house prices in December suggests the extremely backward-looking data are still capturing a slowdown in price growth following the October peak in mortgage rates. That’s mainly... 27th February 2024 · 2 mins read
US Housing Market Rapid Response US New Home Sales (Jan. 2024) The sharp fall in mortgage rates at the end of last year helped new home sales regain some more momentum in January. But so far the rebound has been slightly slower than we were anticipating. Looking... 26th February 2024 · 2 mins read
UK Housing Market Update Larger mortgages challenge weak house price forecasts The fact buyers are using lower mortgage rates to borrow more, rather than spend less on repayments, is a major challenge to the view house price growth will be weak in the years ahead. If there has... 23rd February 2024 · 4 mins read
US Housing Market Rapid Response US Existing Home Sales (Jan. 2024) The sharp fall in mortgage rates at the end of last year was the catalyst for existing home sales rising in January. But borrowing costs have risen again in recent weeks, which in the near term... 22nd February 2024 · 2 mins read
US Housing Market Update Single and multi-family construction on different paths Following the huge fall in multi-family starts in January, we suspect the apartment sector will continue to be a drag on new development this year. But construction of single-family dwellings will... 19th February 2024 · 3 mins read
US Housing Market Rapid Response Housing Starts (Jan. 2024) Housing starts fell by the largest amount since April 2020 in January, led by a huge drop in multi-family starts. We suspect the multi-family sector will continue to be a drag on new development this... 16th February 2024 · 3 mins read
Global Economics Focus Have we reached the end of the housing correction? Housing markets in developed economies have perplexed forecasters since 2019. The boom in prices in 2020-22 was not anticipated, and the fall in prices since has been smaller than expected. In this... 14th February 2024 · 17 mins read
US Housing Market Update Another challenging year for first-time buyers The recent fall in the homeownership rate revealed by the Housing Vacancy Survey (HVS) is unlikely to reverse given still-high mortgage costs. The survey also provided more evidence in support of our... 8th February 2024 · 3 mins read
US Housing Market Rapid Response Mortgage Applications (Jan. 2024) The average mortgage rate in January was unchanged from the month before, but that didn’t prevent mortgage applications for home purchase rising for a third consecutive month. And with interest rates... 7th February 2024 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Nov. 2023) The marked slowdown in house prices in November was the first sign of a response in prices to the spike in mortgage rates a month earlier. 30th January 2024 · 2 mins read
US Housing Market Rapid Response New Home Sales (Dec. 2023) New home sales rebounded in December, reversing nearly all of their decline in the previous month when mortgage borrowing costs were much closer to their 8% peak. 25th January 2024 · 2 mins read
US Housing Market Update Questions from our latest US housing drop-in We held a 20-minute online briefing this week to discuss our new forecast for the US housing market in 2024. You can watch the recording of the “drop-in” here. This Update recaps our answers to the... 25th January 2024 · 4 mins read
US Housing Market Rapid Response Existing Home Sales (Dec. 2023) A drop in existing home sales in December confirmed that they fell by 20% y/y in 2023 as a whole to their lowest level since 1995. (See Chart 1.) Lack of supply was the main reason existing home sales... 19th January 2024 · 2 mins read
US Housing Market Rapid Response Housing Starts (Dec. 2023) Housing starts fell last month reversing almost half of November’s huge weather-driven 11% m/m increase, but remained stronger than they were in the summer. The fall on the month was something of a... 18th January 2024 · 2 mins read
UK Housing Market Rapid Response RICS Residential Market Survey (Dec. 23) Market was picking up even before latest slide in mortgage rates The December RICS Housing Market survey showed sales volumes rising and buyer demand recovering even before the further sizeable drop... 18th January 2024 · 3 mins read
US Housing Market Chart Pack US Housing Market Chart Pack We anticipate that mortgage rates will continue to fall in 2024, but more gradually than they have recently from 6.8% now to 6.25% by the end of the year. That won’t be enough to bring a great deal of... 17th January 2024 · 1 min read
