Hanson Advisers: Massive House Price Growth Deceleration; A Brick Wall

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via mhanson:

Amazing Housing Data…

RedFin puts out a monthly home sales report, which contains a lot of great data.

The chart below shows Feb 2018 year-over-year price growth, which was off the charts, compared to Feb 2019 year-over-year growth, which was very weak.

This y/y growth deceleration is staggering, especially in the high-flying regions.

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Very few regions escaped a significant deceleration with some prominent regions like San Jose and San Francisco even getting crushed on a year-over-year absolute basis.

The only thing that even comes close to this sharp of deceleration was circa-2007.

It was data like these I have been tracking that led to my call last year that there was no way the Fed could continue to hike in 2019.

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For certain housing and related names, this is a killer unless prices re-accelerate quickly.

House Prices

 

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