Driven by frozen inventory, repeat home prices continue to increase, but downward pressure on shelter inflation remains
– by New Deal democrat
Our last piece of important housing information for the month was released this morning; namely repeat home sale prices as measured by the FHFA and Case Shiller. The former increased by 0.6%, and the latter by 0.3%, continuing their increases since the beginning of this year:
On a YoY basis, the FHFA Index is up 6.1%, while the Case Shiller Index is up 3.9%:
As repeat sales, by definition these are existing home sales, and the increases in these indexes are similar (on a non-seasonally adjusted basis) to the last year’s record in the NAR data:
The story continues to be that many
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