US Housing Market Update Constraints on homebuilding beginning to ease There are encouraging signs that the cost and availability of materials, lots and labour are all starting to improve. Coupled with strong new home demand, and a shift toward the construction of... 23rd January 2020 · 2 mins read
US Housing Market Update Key calls for 2020 A lack of homes for sale means forecasters agree that existing home sales will just tread water over 2020. But we are more optimistic than others on the outlook for new home sales and single-family... 21st January 2020 · 3 mins read
US Housing Market Update Debt-to-income ratio key for house price outlook With mortgage rates set for a period of stability over the next couple of years changes in credit conditions, and in particular debt-to-income ratios, will be an important driver of house prices... 10th January 2020 · 3 mins read
US Housing Market Update Refinancing demand set for another strong year With mortgage rates set to remain close to their current low level over the next couple of years, refinancing activity will be strong in 2020. Tighter credit conditions will constrain demand to some... 3rd December 2019 · 3 mins read
US Housing Market Update Mortgage rates to stay close to 4% over next two years We now expect mortgage interest rates to stay close to their current level over the next couple of years. That will give some support to housing demand but, as was the case this year, offsetting... 25th November 2019 · 3 mins read
US Housing Market Update Builders begin slow move back to starter homes Tight supply of affordable homes, and a relatively large increase in their price, are encouraging builders back to the starter home sector. But a slowing economy and tighter credit conditions rule out... 14th November 2019 · 3 mins read
US Housing Market Update Supply of starter homes no better in rental market Households frustrated by the lack of affordable single-family homes for sale will find conditions are no better in the rental market, where the number of homes available for under $1,250 a month has... 12th November 2019 · 3 mins read
US Housing Market Update Inventory of cheaper homes has halved since 2012 The number of vacant single-family homes for sale has dropped 25% since the start of 2012. But the situation is far worse at the cheaper end of the market, where the inventory of homes priced under... 31st October 2019 · 3 mins read
US Housing Market Update Could house price growth accelerate? Some leading indicators of house price growth, such as the size of mortgage approvals and months’ supply of new homes on the market, are pointing to an acceleration in growth to around 5% y/y by the... 22nd October 2019 · 3 mins read
US Housing Market Update Headwinds for NYC home buyers, but not for rents Over the past couple of years buyers of high-end homes in New York City have been hit by higher taxes, and can no longer hide their identity. That has cut home buyer demand and house prices, and may... 16th October 2019 · 3 mins read
US Housing Market Update Rise in appraisal threshold a positive, but a small one A hike in the threshold at which mortgages require a home appraisal, from $250,000 to $400,000, is long overdue and has the potential to reduce closing times, raise closing rates and boost house... 9th October 2019 · 3 mins read
US Housing Market Update Pending home sales taking longer to close A surge in demand for refinancing has stretched lenders’ capacity, lengthening the time it takes to close a mortgage. That has disrupted the usual relationship between pending and existing home sales... 26th September 2019 · 3 mins read
US Housing Market Update Californian rent controls may boost new developments Rent controls usually discourage new rental developments. But the Californian bill that is set to be signed into law may in fact boost the construction of new units. New rental buildings are exempt... 18th September 2019 · 3 mins read
US Housing Market Update Why have mortgage spreads widened? The sharp rise in the spread between the 10-year Treasury yield and 30-year mortgage rate primarily reflects the speed at which yields dropped back. But tighter credit conditions also look to be... 13th September 2019 · 3 mins read
US Housing Market Update Tighter credit conditions another brake on home sales Concerns around the economic outlook have encouraged banks to tighten mortgage lending standards, offsetting some of the impact of lower interest rates on home sales. Surveys suggest that tightening... 29th August 2019 · 3 mins read
US Housing Market Update How will rents perform as the economy slows? Rental growth typically falls back during economic slowdowns, but we think rents will hold up relatively well over the next couple of years. With the rental vacancy rate close to record lows the... 22nd August 2019 · 3 mins read