US Housing Market Rapid Response US Existing Home Sales (Jan. 2025) The fall in existing home sales in January reflects weak deal-making at the end of last year due to the surge in mortgage rates. Given that borrowing costs have stayed above 7% since then, we expect... 21st February 2025 · 1 min read
US Housing Market Rapid Response US Housing Starts (Jan. 2025) The decline in housing starts in January is not a major concern, as it comes after a surge in starts in December and appears partly driven by the unseasonably harsh weather. Encouragingly, permit... 19th February 2025 · 2 mins read
Middle East & North Africa Economics Update Saudi Arabia’s real estate boom not a concern (yet) Saudi Arabia’s real estate sector is in the midst of a boom and affordability among Saudi citizens for housing is becoming increasingly stretched, which may tempt the authorities to loosen lending... 19th February 2025 · 4 mins read
US Housing Market Chart Pack US Housing Market Chart Pack (Feb. 25) We think the window for further Fed interest rate cuts has closed, so mortgage rates should remain near their current 7% level this year, before a little more relief arrives in 2026. There will still... 18th February 2025 · 1 min read
US Housing Market Update Southeast and West Coast apartments to benefit from high costs of home ownership Even if mortgage rates drop back slightly and house price growth cools over the next few years as we expect, renting will remain the more cost-effective option, supporting apartment demand. Southeast... 6th February 2025 · 3 mins read
US Housing Market Rapid Response US Mortgage Applications (Jan. 2025) The steep rise in home purchase mortgage applications in January left applications at their highest level since June 2023. However, taking a step back, activity remains extremely depressed compared to... 5th February 2025 · 2 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Nov. 2024) The modest rise in house prices in November adds to the sense that the housing market is experiencing a bit of a slowdown amid weak buyer demand and gradually rising supply. We think this trend has a... 28th January 2025 · 1 min read
US Commercial Property Update Trump and US CRE: Four key client questions The first week of the new Trump administration hasn’t thrown up any huge surprises in terms of policy announcements. But there remains considerable uncertainty about the impact of those policies and... 24th January 2025 · 4 mins read
US Housing Market Rapid Response Housing Starts (Dec. 2024) The large rebound in housing starts and continued resilience of building permits in December provides some support to our forecast that starts will remain solid in the first half of the year. However... 17th January 2025 · 2 mins read
UK Commercial Property Update Drop in foreign students a small risk for PBSA rents At first glance the 24% y/y drop in sponsored study visas in Q3 2024 spells bad news for PBSA rents. But the cause of that drop - new rules banning international students from bringing dependents -... 14th January 2025 · 3 mins read
US Commercial Property Update Fires in LA highlight rising climate-related risk to CRE While commercial real estate insurance premiums remain elevated, their growth dropped back substantially last year. But as the West and Gulf coasts still face the greatest threat from climate risks... 13th January 2025 · 3 mins read
US Housing Market Outlook Sales slump to drag into 2025 The potentially inflationary policy mix of the incoming Trump administration will limit the decline in mortgage rates this year, squashing hopes for a major recovery in home sales. We expect... 8th January 2025 · 14 mins read
US Housing Market Rapid Response Mortgage Applications (Dec. 2024) The small decline in purchase mortgage applications in December is worse than it looks, as it masks a collapse in demand in the final few weeks of the month, driven by mortgage rates climbing above 7%... 8th January 2025 · 2 mins read
US Commercial Property Apartment Metros Outlook Atlanta, Dallas, Houston and Phoenix to lead the way Our apartment metro forecasts continue to show significant variation between metros, even within regions. For example, while we expect continued strong demand growth in the South – especially in... 23rd December 2024 · 7 mins read
US Housing Market Rapid Response Existing Home Sales (Nov. 2024) The increase in existing home sales in November, despite rising mortgage rates and weakening mortgage applications the month before, points to stronger demand from cash buyers, possibly driven by... 19th December 2024 · 2 mins read
US Housing Market Rapid Response Housing Starts (Nov. 2024) The decline in housing starts in November was entirely due to weakness in multifamily construction, which outweighed a post-hurricane rebound in single-family construction. The rise in permits to a... 18th December 2024 · 2 mins read
