Filtered by Subscriptions: US Housing Use setting US Housing
Experience from the UK shows that buyers of high-end properties will pay significant sums to protect their privacy. That suggests that new rules for Manhattan and Miami-Dade, which will force buyers using shell companies to reveal their identities, will …
21st January 2016
Even with the unseasonably warm weather giving housing starts a boost in the Northeast, across the country as a whole starts dropped by a marginal 2.5% in December. While that is something of a disappointment, strong job creation and elevated homebuilder …
20th January 2016
The introduction of the TRID disclosure rules in October increased the time a mortgage takes to close by a small amount, which will have delayed some home sales. But the evidence does not support claims that the new rules have caused chaos and their …
12th January 2016
The housing market should be able to withstand the first rise in interest rates for nine years. Mortgage applications for home purchase in December were at their highest level in almost six years. And home purchase sentiment has risen on the back of an …
11th January 2016
The collapse in refinancing activity in the final week of 2015 looks to reflect seasonal issues, rather than a reaction to the Fed hiking interest rates. Indeed, applications for home purchase held up and are now at their highest level in almost six …
6th January 2016
House price growth is accelerating as a rise in demand has combined with low inventory levels to boost sellers’ bargaining power. Increases in interest rates will act to cool the market to some extent, but prices are still set for a steady rise this year. …
5th January 2016
Solid new home sales data for November lend weight to the idea that yesterday’s slump in existing home sales was a blip, not a cause for concern. … New Home Sales …
23rd December 2015
November’s slump in existing home sales was widespread, suggesting that new regulation, or perhaps concern about December’s rate rise, may have played a role. Either way, with housing fundamentals such as valuations, affordability and job creation still …
22nd December 2015
A lack of housing inventory continues to drive developments in the market. With homes hard to come by, sales have been constrained and house prices have come under upwards pressure as demand has slowly recovered. Those tight conditions are only set to …
17th December 2015
As expected, housing starts reversed nearly all of last month’s drop, rising by a substantial 10.5% m/m in November. Moreover, building permits recorded their strongest month-on-month gain for five years, which suggests that homebuilding will end 2015 on …
16th December 2015
The lack of housing inventory continues to drive developments in the market. The months’ supply of existing homes for sale has now been below five since May. That is both holding back home sales, and pushing up house prices. But the lack of inventory is …
8th December 2015
A rise in mortgage rates led to a sharp drop in mortgage refinancing activity in November. But applications for home purchase fared better, with the weekly breakdown showing an encouraging rise in activity towards the end of the month. … Mortgage …
2nd December 2015
On a seasonally-adjusted basis, the 2% m/m rise in house prices in October was the highest since 2005. And although that figure is likely to be revised down, it is clear that very tight market conditions are driving house prices higher. … CoreLogic …
1st December 2015
It is not out of the question that the coming rise in interest rates will derail the housing market recovery. Equally, however, it is plausible that a surge of pent-up demand, combined with low housing inventory, will trigger another boom. We think both …
30th November 2015
US high-yield corporate bonds have performed poorly in November amid concerns over the renewedfall in commodity prices and the prospect of tighter US monetary policy. Looking ahead, we do notthink that this performance will continue, even if the Fed …
25th November 2015
Case-Shiller reported that annual house price growth accelerated to 4.9% in September, the highest rate in more than a year. Low numbers of homes for sale mean that even a small increase in housing demand is enabling those sellers that are in the market …
24th November 2015
As expected, existing home sales contracted in October. While housing demand is being supported by a strengthening labour market and gradual easing in credit conditions, a lack of housing inventory is constraining activity. … Existing Home Sales …
23rd November 2015
Our call over two years ago that the homeownership rate would see further declines has proved broadly correct. But with foreclosures now back to historical norms, and credit conditions gradually easing, the conditions are in place for a slow but steady …
19th November 2015
October’s double-digit drop in housing starts was disappointing. But there are good reasons to believe that starts will bounce back in November. … Housing Starts …
18th November 2015
Low interest rates, falling unemployment and a reduction in the share of mortgages with negative equity all contributed to another drop in the delinquency rate in the third quarter. … Mortgage Delinquencies …
17th November 2015
Housing demand is being supported by a gradual easing in credit conditions, which helped the homeownership rate to pick-up from a 48-year low in the third quarter. But with inventory levels still very low, housing demand is feeding through into higher …
11th November 2015
Following the surge in mortgage applications for home purchase in September, due to the introduction of TRID disclosure rules, the fact that applications only dipped marginally in October is a positive sign. While an increase in mortgage rates may weigh …
4th November 2015
Even accounting for the fact that over the past few months the first estimate of house price inflation from CoreLogic has consistently been revised down, today’s reading of a seasonally adjusted 1.3% m/m rise in September shows that low inventory levels …
3rd November 2015
A drop in the share of mortgages in foreclosure, alongside easing credit conditions which have boosted the number of first-time buyers, has helped the homeownership rate to rise from a 48-year low. … Homeownership & vacancy rates (Q3 …
27th October 2015
The Case- Shiller measure of house prices showed that home values are continuing to grind higher, with the annual rate now at its highest level in almost a year. Tight supply conditions are behind the increase, and point to further gains this year. … …
New home sales recorded a surprise drop of 11.5% in September. Yet new home sales data are notoriously volatile. And, given the strong performance of existing home sales in September, as well as the positive outlook for new home sales implied by other …
26th October 2015
Existing home sales rebounded by 4.7% in September. While there are a number of factors pointing to a moderation in sales over the coming months, over the medium-term the outlook is broadly positive. … Existing Home Sales …
22nd October 2015
As expected, housing starts resumed their upward trend in September, confirming that the disruption over the summer caused by the expiry of a tax-break in New York has now worked through. While the number of building permits issued dropped back to a …
20th October 2015
Lenders have accelerated the easing of mortgage lending standards in recent months, thanks to a steady reduction in mortgage delinquencies and new GSE policies. That has started to boost the number of first-time buyers – a necessary development if the …
16th October 2015
On the basis of past form, the fact the rental vacancy rate has hit a 30-year low would suggest rental growth is set to surge. But the drop in the vacancy rate is being exaggerated by a rise in the number of empty homes being kept off the market. Other …
13th October 2015
The drop in mortgage rates towards the end of September has given mortgage applications a boost, as did the introduction of new disclosure requirements for mortgages as buyers acted early to avoid anticipated delays. A steady recovery in housing starts is …
9th October 2015
The uncertainty generated by September’s Federal Reserve meeting, combined with a drop in mortgage rates to below 4% for the first time since May, helped applications for house purchase reverse most of the dip seen in July and August. … Mortgage …
7th October 2015
House prices rose by a substantial 1.5% m/m seasonally adjusted in August according to CoreLogic. Even accounting for the fact that early estimates of house price growth on this measure tend to get revised down, this data provides further evidence that …
6th October 2015
House prices are picking up again on the back of a very tight housing market.But over the next couple of years, as greater numbers of new homes come onto the market andowners of existing properties see more opportunities to move, conditions should ease, …
2nd October 2015
By posting a 0.5% gain during July, the national Case-Shiller index of house prices is beginning to move into line with other measures which have shown far stronger house price gains in recent months. With inventory levels low and mortgage applications …
29th September 2015
New home sales are finally building momentum, and are up by over 18% since June. While low levels of inventory suggest the pace of growth will slow, early evidence that mortgage applications for house purchase are on the up should ensure sales see further …
24th September 2015
After three months of gains, subdued mortgage lending and low inventory levels meant existing home sales fell back in August. Those factors will weigh on sales in the short term, but as lending recovers sales should pick up by the end of the year. … …
21st September 2015
The new Home Purchase Sentiment Index from Fannie Mae has a good track record in forecasting measures of housing market activity. While future performance may not be as impressive, the drop in sentiment over the past couple of months points to a slowdown …
18th September 2015
As expected, the disruption caused by the expiry of a tax-break in New York led to a drop in housing starts in August. But with homebuilder confidence elevated and building permits already recovering, the upwards trend in starts should resume soon. … …
17th September 2015
The first quarter’s recovery in mortgage applications for home purchase appears to have been derailed by a lack of earnings growth and the resulting deterioration in affordability. While earnings shouldpick-up, rates are also poised to rise, suggesting …
10th September 2015
Housing market activity on most measures has seen further gains. Existing home sales rose unexpectedly in July, and are now up 16% since the start of the year. And while starts were essentially flat in July, they are up 10% over the same period, and …
9th September 2015
The drop in interest rates triggered by the market turmoil of the past couple of weeks has given a boost to refinancing activity. Applications for home purchase have been more sluggish, but with credit conditions loosening and employment rising, the small …
2nd September 2015
CoreLogic report that house prices saw a very large rise of 1.5% seasonally-adjusted in July, pushing the annual rate to a 12-month high. Tight market conditions are driving house prices higher, a trend that is set to continue this year. … CoreLogic …
1st September 2015
The housing market is well placed to cope with a gradual rise in interest rates. Indeed, there is some evidence that a gentle rise in rates can spur some potential buyers to get into the market before the best deals are gone, providing a modest short-term …
28th August 2015
New home sales reversed part of June’s sharp fall in July, and alongside a surge in existing sales that has led to the tightest market conditions in a decade. Surprisingly, those tight conditions have yet to feed through to the Case-Shiller measure of …
25th August 2015
Against expectations, existing home sales rose once again in July, to their highest level since the start of 2007. But with the months’ supply of existing homes dropping to its lowest level in a decade, a lack of choice will start to dissuade buyers and …
20th August 2015
The recovery in housing starts continues, as builders respond to improving demandfor new-build homes. The expiry of a tax-break in New York City has distorted thebuilding permit data but other leading indicators, such as homebuilder confidence,point to …
18th August 2015
The share of mortgage borrowers having trouble with repayments dropped again in the second quarter, thanks to low mortgage rates, rising house prices and a solid labour market. That progress should continue, providing a boost to mortgage lending. … …
13th August 2015
Total home sales increased to nearly 6m annualised in June. This was the fastest pace of sales since before the financial crisis and is a clear sign that the market is gradually normalising. Moreover, even if the Fed increases rates twice this year, …
10th August 2015
The upward trend in mortgage interest rates seems to be holding back mortgage applications. However, provided the labour market continues to strengthen as we expect, looser credit conditions and favourable affordability suggest that Fed tightening need …
5th August 2015
