Housing How is the health of the US housing market?

The US housing market is often seen as a bellwether of the overall economy.

20 May 2020
  • Housing price growth in major US metro areas has slowed since the beginning of the year, particularly in New York – from almost ~7% y/y to less than 1% (as of April 4).
  • In Dallas, prices have been falling and are now down ~2% y/y.
  • Inventories have been falling for months, but the year-over-year change has decelerated sharply since mid-March.
  • The decline in inventories suggests there are fewer listings on the market.
  • Home prices are now flat y/y after rising for the past 12 months.

US Housing Prices – Median, Change y/y

Source: UBS Evidence Lab

Housing Inventory – Change y/y

Source: UBS Evidence Lab

Housing Prices – Median, Change y/y

Source: UBS Evidence Lab