The exceptional home price growth in many US markets (mostly coastal) may be coming to an end.
According to Attom Data Solutions, home price growth appreciation is slowing, even in the state of Amasoft (Washington).
Utah is seeing acceleration of home price growth, while southern California and Arizona are slowing. The midwest is accelerating (except for Cleveland, of course). See Attom’s site for the interactive map.
In the aggregate, home price appreciation is slowing.
But despite the rapid growth in home prices, there remains pockets of seriously underwater housing (home price < mortgage balance).
Wage growth is improving and home price growth is slowing.
I wonder if this will be discussed at Jackson Hole?
Courtesy of Jesse’s Cafe Americain.