Source: Bloomberg
So take your pick!!!
However, on a non-seasonally-adjusted basis, home prices decline YoY for the first time since May 2012 (as shown in the chart below):
Source: Bloomberg
Miami, Tampa, Charlotte reported highest year-over-year gains among 20 cities surveyed while San Francisco is down a shocking 11.2% YoY...
The index provider preferred to focus on the SA data for signs of hope...
"Two months of increasing prices do not a definitive recovery make, but March’s results suggest that the decline in home prices that began in June 2022 may have come to an end," Craig J. Lazzara, managing director at S&P Dow Jones Indices, said in statement.
"That said, the challenges posed by current mortgage rates and the continuing possibility of economic weakness are likely to remain a headwind for housing prices for at least the next several months."
Finally, as a reminder, the man behind the home price index - Yale economist Bob Shiller - told CNBC's "Closing Bell: Overtime" last month that "home prices are very, very high by historical standards."
"I would extrapolate the downturn somewhat - it's going to continue," he added.
"Maybe if you have a good chance to delay your purchase, it might be a good time to do it."
"It might get a little cheaper after another six months."
We suspect that is what Powell is hoping for, and judging by mortgage rates, prices have a long way to fall...
Source: Bloomberg
Unless The Fed folds.
Go paid at the $5 a month level, and we will send you both the PDF and e-Pub versions of “Government” - The Biggest Scam in History… Exposed! and a coupon code for 10% off anything in the Government-Scam.com/Store.
Go paid at the $50 a year level, and we will send you a free paperback edition of Etienne’s book “Government” - The Biggest Scam in History… Exposed! AND a 64GB Liberator flash drive if you live in the US. If you are international, we will give you a $10 credit towards shipping if you agree to pay the remainder.
Support us at the $250 Founding Member Level and get an Everything Bundle – The Sampler of Liberty! - Get it free by going paid as a Founding Member!
Give me Liberty... and give me more! The Everything Bundle includes the latest version of our flagship book on government, along with a collection of potentially life-altering introductions to voluntaryism, agorism and peaceful anarchy.
“Government” – The Biggest Scam in History… Exposed! by Etienne de la Boetie2
Anarchy Exposed! - A former police officer reports on his investigative journeyby Shepard the Voluntaryist and Larken Rose
The Most Dangerous Superstition by Larken Rose
Sedition, Subversion and Sabotage – Field Manual #1 by Ben Stone, The Bad Quaker, and Ken Yamarashi
What Anarchy Isn’t– A short pamphlet by Larken Rose… The perfect introduction to peaceful anarchy
Three Friends Free – A Children’s Story of Voluntaryism
The Liberator is a 64GB wafer flash drive filled with books, documentaries, podcasts, MP3s, short videos, and music from the truth movement’s leading artists. The credit card-sized format makes it convenient to keep in your wallet to share and copy easily.
