• Prior was -1.3%
  • Prices +10.4% y/y vs +10.8% expected
  • Prior +13.1%

The FHFA price index:

  • +11.0% y/y vs +11.9% prior
  • Prices +0.1% m/m vs -0.7% prior

This is old data from September and pricing is a lagging indicator to begin with. That said, there have been signs of a bottom in US housing as rates flatten out. What happens next will depend on what happens with interest rates and what happens with rates will depend on inflation.