US Housing Market Data Response Housing Starts (May) The 4.8% m/m fall in housing starts in May could be an early sign that the recent slowdown in the wider economy has taken some of the wind out of the sails of the improvement in housing market... 19th June 2012 · 1 min read
US Housing Market Update A stronger outlook for house prices? The improvement in housing market activity has not only put a floor under house prices, but, in recent months, has driven them higher. With the big caveat that much depends on how severe the effects... 14th June 2012 · 1 min read
Japan Economics Update Business conditions tougher than expected but optimism remains The government’s Business Outlook Survey indicates conditions deteriorated slightly in Q2, confounding Q1’s forecasts of a strong recovery. Despite the tougher-than-expected environment, firms remain... 11th June 2012 · 1 min read
Canada Economics Weekly Housing construction likely to keep on giving The latest permit data indicate that condo developments continue to be the main source of strength in new housing construction, which has showed little sign of slowing. Given the lengthy construction... 11th June 2012 · 1 min read
US Housing Market Chart Pack Modest housing improvement still holding up The weaker tone of the economic and labour market data has yet to be reflected in the housing numbers. Home sales rose by 3.4% m/m in April and are 10% higher than a year ago. The fact that improving... 8th June 2012 · 1 min read
UK Data Response Halifax House Prices (May) The small rise in the Halifax house price index for May seems to be in keeping with other evidence that house prices are stuck in a rut, at least at the national level. 7th June 2012 · 1 min read
US Housing Market Data Response Mortgage Applications (May) The small fall in mortgage applications for home purchase suggests that, despite record low mortgage rates, the renewed weakness in the labour market is starting to weigh on housing demand. 6th June 2012 · 1 min read
UK Data Response Nationwide House Prices (May) Today’s data from the Nationwide show that house prices continue to tread water. In terms of the outlook, however, downside risks, such as further falls in GDP, dominate the upside. We continue to... 31st May 2012 · 1 min read
UK Data Response Mortgage Lending (Apr.) The Bank of England measure of mortgage approvals for April does nothing to change the picture of a depressed mortgage market. With escalating tensions in the euro-zone likely to curb further the... 30th May 2012 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Q1) In seasonally-adjusted terms, the Case-Shiller national house price index reported its strongest quarterly gain for two-and-a-half years. And with the economic recovery now on firmer ground, we see no... 29th May 2012 · 1 min read
UK Housing Market Data Response RICS Lettings Survey (Apr.) The growth of tenant demand continued to ease at the start of 2012, but not by enough to slow the modest upward path of rents. Nevertheless, falling real pay points to rental value growth slowing... 25th May 2012 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Apr.) Fears of further rises in mortgage interest rates appear to have prompted a rise in the number of households seeking to remortgage in May. But those same fears are doubtless contributing to the low... 24th May 2012 · 1 min read
US Housing Market Data Response New Home Sales (Apr.) April’s 3.3% m/m rise in new home sales adds to the impression that homebuilders are starting to feel some of the benefits of improving housing market activity. Moreover, the rising proportion of new... 23rd May 2012 · 1 min read
UK Housing Market Update What does the moderation in London house price inflation mean? Last night’s Evening Standard headline, “House prices fall in London”, may have stretched the truth. Yet it does appear as though the pace of house price growth in London is at least beginning to slow... 23rd May 2012 · 1 min read
US Housing Market Focus The housing recovery will last the course The sheer extent of undervaluation in the housing market, combined with the prospect of a sustained if modest economic and labour market improvement, should ensure that the current, gradual housing... 21st May 2012 · 1 min read
US Housing Market Data Response Housing Starts (Apr.) The 2.6% m/m rise in housing starts in April, alongside the big upward revisions to earlier data, supports our view that housing is in recovery mode. Driven in particular by the multi-family sector... 16th May 2012 · 1 min read
