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
US Housing Market Update Lower loan limits won't be a disaster The scheduled reduction in conforming mortgage loan limits at the start of October is unlikely to trigger a further precipitous fall in house prices as some have suggested. Nevertheless, it certainly... 6th July 2011 · 1 min read
US Housing Market Data Response CoreLogic House Prices (May) CoreLogic's house price data for May provide further evidence that the five-year long decline in prices may be drawing to a close. We remain concerned that prices may yet slip a little further. Either... 1st July 2011 · 1 min read
UK Data Response Nationwide House Prices (June) The Nationwide house price index was unchanged in June. But the regional indices show that the resilience of the national index over the past year or so is largely down to London where, in contrast to... 1st July 2011 · 1 min read
Europe Data Response Euro-zone EC Survey (Jun.) June’s EC business and consumer survey dealt a further blow to hopes that sustained strong growth in the euro-zone’s core economies might help to ease the crisis in the periphery. 30th June 2011 · 1 min read
UK Data Response Mortgage Lending (May) The latest mortgage lending figures confirm that housing market activity remains very weak. That’s unlikely to change while the squeeze on real pay continues. 30th June 2011 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Apr.) April's Case-Shiller house price data support other evidence indicating that the rate at which prices are falling has eased. On some measures, prices are actually rising. We still believe that prices... 29th June 2011 · 1 min read
UK Housing Market Data Response Land Registry Repeat Sales Index (May) May’s fall in the Land Registry’s index of house prices offset all of the previous month’s rise and confirmed the downward trend in prices on this measure. House price falls are likely to be extended... 29th June 2011 · 1 min read
