US Home Prices Surged 12% YoY, Most In 7 Years

US home prices rose on a year-over-year basis for the 8th straight month in February (the latest Case-Shiller data point), surging 11.94% YoY (better than the 11.80% expected)…

Source: Bloomberg

And as a reminder, median existing home prices tumbled last month as median new home prices jumped to a record high…

Source: Bloomberg

Of course, due to the lagged nature of Case-Shiller’s data, it has yet to really be impacted by rising mortgage rates…

Source: Bloomberg

It appears, on the bright side, that mortgage rates are starting to fall again… but how much longer can Powell and his pals keep it that way (and do they want to keep enabling this home price bubble… and affordability anti-bubble)