{"id":1445907,"date":"2023-12-26T14:10:56","date_gmt":"2023-12-26T19:10:56","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1445907"},"modified":"2023-12-26T14:10:56","modified_gmt":"2023-12-26T19:10:56","slug":"us-home-prices-surged-for-9th-straight-month-in-october-led-by-miami","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/us-home-prices-surged-for-9th-straight-month-in-october-led-by-miami\/1445907\/","title":{"rendered":"US Home Prices Surged For 9th Straight Month In October, Led By Miami"},"content":{"rendered":"

US Home Prices Surged For 9th Straight Month In October, Led By Miami<\/span><\/p>\n

\n

Home prices in America’s 20 largest cities rose for the 9th straight month in October (the latest data released by S&P Global Case-Shiller today), up 0.64% MoM (slightly better than the +0.60% MoM expected).<\/p>\n

That pushed the YoY rise in prices up 4.87% – the fastest pace since Dec ’22…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…but as the chart shows the MoM gains are slowing rapidly.<\/strong><\/p>\n

“U.S. home prices accelerated at their fastest annual rate of the year in October”, says Brian D. Luke, Head of Commodities, Real & Digital assets at S&P DJI.<\/em><\/p>\n

“We are experiencing broad based home price appreciation across the country, with steady gains seen in nineteen of twenty cities<\/strong>.”<\/em><\/p>\n

Miami and Detroit saw the biggest MoM gains while the West Coast dominated the MoM price declines with San Francisco, Portland, and Seattle worst.<\/p>\n

But, judging by the resumption of the rise of mortgage rates since the Case-Shiller data was created, we would expect prices to also resume their decline…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

So prices are up, mortgage rates are actually falling again now (lagged)… so The Fed is re-blowing the same bubble?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 12\/26\/2023 – 09:10<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/us-home-prices-surged-9th-straight-month-october-led-miami<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

US Home Prices Surged For 9th Straight Month In October, Led By Miami Home prices in America’s 20 largest cities rose for the 9th straight…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1445907","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1445907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1445907"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1445907\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1445907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1445907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1445907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}