Prior was +0.8% y/yMonthly prices vs -0.1%Prior monthly -0.2%
From the FHFA:
Yearly vs +1.7% priorMonthly vs +0.1% prior
There are some signs that housing is starting to tick up in the US and you can see it in housing-related stocks lately. Much of that is a function of oil prices coming down and the threat of broader inflation dwindling but it’s been a long, rough recession in US housing that could be reversed on positive cyclical factors as stock markets continue to rise and unemployment stays low. It’s taken some time for buyers to get used to 6% mortgages again but it doesn’t look like those 3% mortgages for 30 years are coming back any time soon, maybe ever.
This article was written by Adam Button at investinglive.com.