Housing View – March 24, 2023

On cross-country:

  • The Anglosphere needs to learn to love apartment living. Housebuilding rates in English-speaking states have fallen behind the rest of the developed world – FT
  • Credit Suisse Brings US Bank Panic Home for European Real Estate. Investors worry about contagion at annual Cannes conference. Concern over rates and further turmoil chills property lending – Bloomberg
  • Where High Interest Rates Have Sent Home Prices Sliding. In Sweden, the central bank’s fight against inflation is crimping economic growth and has contributed to a 15 percent drop in home prices. – New York Times
  • 2023 Demographia International Housing Affordability Survey – Demographia


On the US—developments on house prices, rent, permits and mortgage:    

  • February Housing Starts: Housing Starts Increase More Than Expected As Builder Confidence Edged Higher. The increase in builder confidence and housing starts are signs housing demand is thawing from last year’s deep freeze. – Zillow
  • U.S. single-family housing starts, building permits rebound in February – Reuters
  • NAHB 2023 “Priced Out” Estimates – State and Local Estimates – NAHB
  • House Prices: Rust or Bust? It is possible the Median House Price will be Down YoY in February – Calculated Risk
  • Home Prices Inched Up in February, as Some Home Shoppers Braved the Gauntlet of Low Inventory and High Mortgage Rates (February 2023 Market Report) – Zillow


On the US—other developments:    

  • How the Housing Market Could Be Affected by Bank Failures – Barron’s
  • US mortgage market suffers fallout from bank failures. Volatility in bonds and stocks has left lenders on sidelines of $11tn home loans-backed securities market – FT
  • Black-White Homeownership Gap Narrows During Pandemic – Zillow
  • Lawler: Early Read on Existing Home Sales in February. 3rd Look at Local Housing Markets in February – Calculated Risk
  • California Wildfires, Property Damage, and Mortgage Repayment – Philadelphia Fed
  • Households Priced Out by Higher Interest Rates – NAHB
  • NAR: Existing-Home Sales Increased to 4.58 million SAAR in February; Median Prices Declined YoY. Median Prices Down 12.3% from Peak in June 2022 – Calculated Risk
  • Existing Home Sales Surged in February – NAHB
  • New Home Sales at 640,000 Annual Rate in February – Calculated Risk


On China:

  • China Real Estate Showing Signs of Recovery After Slump. Home sales, prices snapped losing streak of more than a year. Investment continued to fall but at a much slower pace – Bloomberg
  • Long-run mechanism for house price regulation in China: Real estate tax, monetary policy or macro-prudential policy? – IDEAS
  • Measuring real estate policy uncertainty in China – China Economic Quarterly International


On other countries:  

  • [Mexico] Mexico’s housing market improving gradually – Global Property Guide
  • [Netherlands] Netherlands’ house prices are now falling rapidly – Global Property Guide
  • [Turkey] Turks Are Latest to Rebel Over Foreigners Buying Homes, Want Ban – Bloomberg 
  • [United Kingdom] UK Property Sellers Lift Asking Prices Despite Worry About Slump. Rightmove survey indicates strength in the UK housing market. Some indicators show housing market is headed for a decline – Bloomberg

Posted by at 5:00 AM

Labels: Global Housing Watch

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