Home Prices Show Small Signs of Moderating

                                                           

Tuesday saw the release of the Case Shiller home price indexes and the FHFA home price index. The Case Shiller national home price index rose in August 19.9 percent compared with a year ago      October 26, 2021   Today's Top Stories From the Breitbart News Desk Tuesday saw the release of the Case Shiller home price indexes and the FHFA home price index. The Case Shiller national home price index rose in August 19.9 percent compared with a year ago, a record in data stretching back to the 1980s. The Case Shiller 20-city index rose 19.7 percent. The FHFA index was up 18.5 percent. These are at or close to record highs. For the Biden administration, which promised to make houses more affordable, it's yet another policy failure. But there are some signs that the housing market is cooling off. The monthly gains were lower than the previous month, a decline that has now entered its second month. The year over year gain in the 20-city index fell for the first time in over a year. Home prices started rising rapidly in the summer of 2020 as the effects of lockdowns, riots, and rising urban violent crime combined to produce what we tagged as the Flight from the Cities. Over a year into the home buying boom, it's likely that we'll start to see some moderation in home price gains. Indeed, it seems likely that home price appreciation peaked in August. That doesn't mean home prices will fall, even though the chart of gains looks intimidatingly vertical. More likely is a slow down in home price appreciation to something like a more normal level. – Alex Marlow & John Carney Breitbart News Network     TOP STORY   Bidenflation: U.S. Home Prices Jump by Record 19.9% U.S. homes prices were up by a record amount in August compared with a year earlier, as Americans continued to bid up house prices. The S&P CoreLogic Case-Shiller national home price index soared 19.9 percent in the 12-months leading to August. That's the largest price jump in records going back to the 1980s. The 20-city home price index jumped 19.7 percent in August compared with a year ago, just below July's 20 percent jump that was the largest on record. Home prices are now at record highs in all 20 of the metropolitan areas tracked by the index. [Click here for more]   IN OTHER STORIES... Carney: Biden's Bank Regulator Nominee Would End Community Banking Saule Omarova does not want to reform banking regulations—she wants to kill banks. The biggest Wall Street banks would likely survive her favored reform. But it would have a 100 percent lethality rate for... [Click here for more]   Inflation Fears Rise to 13-Year High But Consumer Confidence Rises as Delta Variant Fades The fall of new coronavirus infections gave a boost to consumer confidence in October but inflation fears are still rising, the Conference Board said Tuesday. "While short-term inflation concerns rose to a 13-year high, the impact on confidence was muted. The proportion of consumers planning to purchase homes, automobiles, and major appliances all increased in... [Click here for more]   Exclusive — Road Dog Trucking's Mark Willis: Vax Mandate Worsens Existing U.S. 'Driver Shortage' of About 80,0000 Mark Willis, host of SiriusXM's Road Dog Trucking News, told Breitbart News on Monday that vaccine mandates imposed by the Biden administration and businesses are exacerbating an existing national shortage of about 80,000 truck drivers. Willis reflected on supply chain breakdowns and interruptions driven by government decrees and industry regulations ostensibly imposed to reduce the... [Click here for more] FOLLOW   Did you receive this email from a friend? Sign up to receive Breitbart Business Digest. ©2021 Breitbart News 149 S. Barrington Ave. #401 Los Angeles CA 90049 USA

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