Case-Shiller Home Prices Surge At Fastest Pace (6.34% YoY) Since 2014

By Anthony B. Sanders

Still Over 2x Hourly Earnings Growth

Yes, The Federal Reserve is removing its excessive monetary stimulus at a sloth-like pace.

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And home price growth is actually accelerating with the February Case-Shiller HPI growing at 6.34% YoY.

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Home price growth is still growing a greater than 2x hourly earnings growth and has been since 2012.

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Seattle, San Francisco and Las Vegas continue to lead the nation in YoY home price growth. Bringing up the rear are Chicago and Washington DC.csfed

18 of 20 metro areas in the US saw home prices grow at a higher pace, while 16 of 20 major U.S. cities experienced home price growth of 5.4% or higher, double the average wage growth.  And yes, Washington DC also has the slowest wage growth of the 20 cities in the Case-Shiller index.

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As long as The Fed is slow (to normalize), you count on home prices to grow over 2x earnings growth.

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Gary

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