Slowing! Home Prices Slow To 2012 Levels (Fastest Growing? Phoenix, Slowest Growing? San Francisco)

The August Case-Shiller home price indices were released this morning.

The 20 metro HPI index slowed to 2% YoY, back to 2012 levels.

csyoyyikes

The fastest growing metro area in terms of home prices? Phoenix. The slowest growing? San Francisco.

Screen Shot 2019-10-29 at 12.11.43 PM

The Phoenix recovery is not as dramatic as the 2004-2006 home price spike.

phoenixazcs

San Francisco had a similar 2004-2006 spike in home prices, but a faster post-crisis surge.

sfcase

Even Cleveland and Columbus Ohio saw declines from their 2006 peak in home prices, but no evidence of a 2004-2006 surge (just a gradual rise).

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Columbus, in particular, is shown a rapid rise since 2012.

What is so important about 2012? It was the huge third round of Fed QE (asset purchases).

farbast2012

 

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