The US housing bubble (again) keeps growing!
According to the S&P Corelogic Case-Shiller national home price index for April, house prices grew at a rate of 14.59% year-over-year. And keeps on growing with M2 Money growth.
The Month-over-month numbers are even scarier. On an annualized basis, the 20-city Case-Shiller HPI is up 19.4% (1.62% * 12).
Where are home prices booming? All 20 metro areas are about 10% growth in HPI, except Chicago. Phoenix leads the nation at 22.3% YoY with Chicago in last place at 9.9% YoY.
Again, lack of available inventory, lack of new supply due to rising costs, and The Fed flooding markets with liquidity.