US Home Price Growth Weakest In 7 Years (Phoenix Now Fastest Growing Home Prices, Seattle Home Prices Declining)

US national home price growth has slowed to its lowest level in 7 years, according to  June’s Case-Shiller report.

The decline in national home price growth coincides with The Fed’s decision to let its balance sheet self-unwind.

csyoyfed

Phoenix, my former residence, is now the fastest growing metropolitan area in the US, even faster than Las Vegas. Seattle is now the slowest growing metro area in terms of home prices and is actually declining. San Francisco is barely above 0% at 0.7% YoY.

Screen Shot 2019-08-27 at 12.26.48 PM.png

The FHFA purchase-only home price index YoY has fallen to 1.0.

fhfayoy

Time for some more “Fed Fresh” spray?

tfresh

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