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US Home Prices Fall First Time In 11 Years. But…
It was inevitable, but now it's official. Sort of.
US home prices are falling on a YoY basis for the first time in over a decade, according to one brokerage's calculations.
During the four-week period ended February 26, the "typical" US home sold for 0.6% less than it did during the same stretch last year.
That's according to Redfin, whose Dana Anderson on Thursday said revisions flipped the previous four-week YoY comp negative as well. The declines are the first since February of 2012.
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Nyc coops down 15% from last March. I bet sf, Seattle and others are far weaker as well. The fact that there are big differences shows some health in us housing. If correlations were 1 watch out. That said, auto prices appear to be peaking and wage growth is starting to slow. Service sector inflation is next…This time is not different. Us treasury bonds look like a good bet past 7 years and a good hedge for stocks. Equity risk premium is pretty low right now
I’m with you brother. I was the subject of a constant email barrage from my car dealer for two months since 1/1 begging to buy my car. My guess is car prices need to come down and used is more affordable than new for the time being, especially with rising rates and credit tightening on car loans.
I’m getting the same barrage for my car as well.