Europe Data Response Euro-zone EC Survey (Jul.) July’s fall in euro-zone economic sentiment adds to the evidence of a broad-based economic slowdown. The decline in the economy-wide Economic Sentiment Indicator (ESI), from 105.1 to 103.2, was... 29th July 2011 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (May/Jun.) May's Case-Shiller house price index suggests that the five-year-long decline in house prices may be more or less over. But with June's new home sales data confirming that housing demand remains... 27th July 2011 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (June.) Despite June’s rise, mortgage approvals have remained broadly flat over the past year. With the squeeze on household incomes unlikely to ease anytime soon and with few signs of looser lending... 26th July 2011 · 1 min read
UK Housing Market Update Is the latest rise in net migration another positive for rents? If sustained, the latest rise in net migration should add to the upward pressures on rents over the next few years. But if the increase continues to owe as much to fewer British citizens leaving the... 23rd July 2011 · 1 min read
UK Housing Market Update Have food and energy price rises offset the benefit of rate cuts? The low level of forced selling over the past few years, which has been a key support for average house prices, owes much to the low level of mortgage interest rates. But given the squeeze on real... 22nd July 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (Jun.) The further fall in the number of existing home sales in June, to 4.77m from 4.81m in May, suggests that the recent deterioration in economic conditions has already hit the housing market. 21st July 2011 · 1 min read
US Housing Market Data Response Housing Starts (Jun.) The 14.6% m/m leap in housing starts in June, to a five-month high of 629,000 from 549,000 in May, is not the start of a significant and sustained surge in homebuilding. Instead, it reflects a rebound... 20th July 2011 · 1 min read
US Housing Market Chart Pack Don't read too much into seasonal boost The recent rises in house prices are nothing more than the normal seasonal uplift triggered by the better weather and the end of the school year. After stripping out such seasonal effects, prices on... 15th July 2011 · 1 min read
UK Housing Market Update Are mortgage approvals still a good lead indicator for house prices? The fact that the relationship between house prices and mortgage approvals has loosened over recent years does not mean that it has lost all its value. But in the absence of fresh, sharp falls in... 15th July 2011 · 1 min read
UK Housing Market Outlook No relief in sight for the housing market Our views on valuation, as well as our expectations that the economy and housing market activity levels will remain weak, mean that we anticipate further falls in house prices. But the fact that... 14th July 2011 · 1 min read
Canada Chart Pack Housing starts may have peaked this year Housing starts reached an annualised 197,000 units in June, up from a revised 194,000 in the month before. Housing starts this high are arguably well above estimates of demographic requirements, which... 14th July 2011 · 1 min read
UK Housing Market Data Response RICS Housing Survey & CLG House Prices (Jun/May) The latest RICS housing market survey provides further evidence that the outlook for activity and prices in the housing market is soft. Even if it is sustained, the slowing in the rate at which new... 13th July 2011 · 1 min read
US Housing Market Update Don't fret over expected downward revisions to home sales The expected downward revisions to the number of existing homes sales will not be the disaster widely assumed. Because the house price data will be unchanged, it could even be considered good news as... 12th July 2011 · 1 min read
UK Housing Market Chart Pack House price indices diverge More properties are coming onto the market but buyers remain in relatively short supply hampered by tight credit conditions and increasingly, renewed uncertainty about the economic outlook. The... 8th July 2011 · 1 min read
US Housing Market Data Response Mortgage Applications (Jun.) It seems very unlikely that the recent easing in the rate at which house prices are falling can develop into sustained and significant price gains at a time when mortgage demand is still in the gutter... 7th July 2011 · 1 min read
UK Data Response Halifax House Prices (June) The bounce in house prices in June is unlikely to signal that the downwards pressure on house prices has abated. With the squeeze on real pay likely to intensify until well into next year, house... 7th July 2011 · 1 min read
