There is little question that the housing market is exceptionally hot at the moment, although reports over the last two weeks suggest that the lack of supply and higher prices may tentatively be starting to put some buyers off. In this week’s Economics Weekly we take a quick snapshot of the U.S. housing market, with the view that housing may decelerate a little over the next few months before activity reaccelerates as the near-term supply constraints start to ease; in short, there is still a long way to run.
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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.