US Housing Market Data Response Case-Shiller House Prices (Jul.) The 0.1% m/m rise in Case-Shiller 20-City house prices in July is unlikely to mark the start of a sustained and significant recovery in prices. We still expect prices to fall back a bit later this... 28th September 2011 · 1 min read
US Housing Market Data Response New Home Sales (Aug.) In a month when both equity prices and confidence plunged and fears of another recession soared, the 2.3% m/m decline in new home sales in August could have been much worse. Nonetheless, in the... 27th September 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (Aug.) The BBA measure of mortgage approvals rose to a 15-month high in August. But given the weak outlook for growth and employment and still tight credit conditions, the chances that this will mark the... 24th September 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Aug.) Given the recent sharp falls in equity prices and consumer confidence, there is a real risk that the 7.7% m/m rise in existing home sales in August will not be sustained. Without a significant surge... 22nd September 2011 · 1 min read
US Housing Market Data Response Housing Starts (Aug.) The further fall in housing starts in August adds to other evidence, such as the recent drop in consumer confidence and fall in mortgage approvals, suggesting that demand for new homes remains close... 21st September 2011 · 1 min read
UK Housing Market Update Buying vs. Renting: how does the choice stack up? To judge by much of the commentary surrounding the plight of “generation rent” you might conclude that anyone who can buy should do so immediately or risk being frozen out of the market. Yet even if... 20th September 2011 · 1 min read
UK Housing Market Data Response FSA Mortgage Lending Statistics (Q2) Credit conditions may have held broadly stable in Q2, but while the availability of mortgage lending is this tight, the influence on housing market activity and prices is still downwards. 14th September 2011 · 1 min read
UK Housing Market Data Response RICS Housing Survey & CLG House Prices (Aug/Jul) The latest RICS housing market survey pointed to the return of buyer caution in August, as sales dropped to their lowest level in over two years. London remained the exception to the rule, with house... 14th September 2011 · 1 min read
US Housing Market Data Response Mortgage Applications (Aug.) The latest mortgage applications figures illustrate how ultra-loose monetary policy is failing to boost economic activity. Despite the fall in 30-year mortgage rates to within a whisker of a record... 8th September 2011 · 1 min read
UK Data Response Halifax House Prices (Aug.) With all of the house price data relating to August released so far reporting month-on-month falls, the evidence of renewed weakness in prices is building. Admittedly, it is too early to draw firm... 8th September 2011 · 1 min read
UK Housing Market Update How significant is the collapse in house prices in terms of gold? Taken at face value, the seven year decline in house prices expressed in gold might suggest that, relative to the precious metal, house prices are now ripe to recover. Yet in reality, we don’t think... 7th September 2011 · 1 min read
US Housing Market Update FHFA's new house price index still falls short The FHFA's new "expanded-data" house price index is better than its other indices as it includes some purchases made with cash and non-conforming loans. However, as it is still a less comprehensive... 7th September 2011 · 1 min read
UK Data Response Nationwide House Prices (Aug.) August’s drop in average house prices may be little more than noise in the broadly flat trend seen in recent months. But with the recovery faltering and consumer confidence weakening it could also... 2nd September 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Jul.) We are wary of reading too much into CoreLogic's fairly optimistic house price report for July, which showed that seasonally adjusted prices fell by just 0.1% m/m, when prices have yet to respond to... 1st September 2011 · 1 min read
UK Housing Market Data Response RICS Lettings Survey (Jul.) Rental demand remained healthy in the three months to July. But there was tentative evidence that high rents may be beginning to take their toll. In any event, surveyors have become slightly less... 1st September 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Q2) With the economy weakening again, confidence falling and the labour market recovery faltering the rise in Case-Shiller house prices in the second quarter probably does not mark the end of the housing... 31st August 2011 · 1 min read
