US Home Prices Surge At Record Pace, Phoenix Up Over 32% YoY
Supporting the vicious cycle of soaring home prices pushing homebuyer confidence to record lows, July Case-Shiller Housing data (the latest available) showed yet another record pace of increase in home prices.
The broad HPI rose 19.70% YoY (a record) and the 20-City Composite rose 19.95% YoY (yet another record high)…the 14th straight month of accelerating price increases.
Phoenix led the way with a 32.4% surge…
US home prices are accelerating higher. We have seen this picture before…
It doesn’t take a rocket scientist or a Fed PhD to figure out what yet another record rise in home prices will do to homebuyer confidence…
Is The Fed about to taper and hike rates into a housing slump?
Tue, 09/28/2021 – 09:05