S&P CoreLogic Case-Shiller’s 20-City Composite price index rose just 2.13% YoY in June – the weakest growth since August 2012.
The MoM rise of just 0.04% notably missed expectations of a 0.1% rise and the drop from 2.37% YoY was also a sizable acceleration in the decline.
Source: Bloomberg
This slide has occurred as mortgage rates have plunged…
Source: Bloomberg
But, given the lags in Case-Shiller data, there is an argument that the de-growth in prices could be about to stall (even though that’s not what we saw in early 2016).
New York City saw a decline in prices in June.
via ZeroHedge News https://ift.tt/2PirgN7 Tyler Durden