Case-Shiller: National House Price Index increased 10.4% year-over-year in December (As Inventory For Sale Shrinks And M1 Money Explodes!)

by confoundedinterest17

What do you get when there is little inventory of homes for sale and The Federal Reserve pumping money into the economy like the great Chicago fire?

(Bloomberg) — Home prices in 20 U.S. cities surged in December, with low mortgage rates fueling the housing market

The S&P CoreLogic Case-Shiller index of property values climbed 10.1% from a year earlier, beating the median estimate of 9.9% in a Bloomberg survey of economists. It followed a 9.2% gain in November and was the biggest jump since 2014.

Phoenix, San Diego and Seattle posted the biggest gains in prices. Nationally, the Case-Shiller index jumped 10.4% in December, also the biggest surge since 2014.

Historically low mortgage rates have fueled a pandemic housing rally, with scant inventory of homes to buy helping to boost prices.

Not to mention The Federal Reserve pumping money (M1) into the economy at a rate 69.7% YoY.

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Where are home prices exploding in growth? EVERYWHERE! Even Cleveland is growing at 11.50% YoY.

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