- Prior was -0.5%
- Year-over-year prices +2.5% vs +2.5% expected
- Prior y/y reading was +4.6%
House prices from the FHFA:
- FHFA prices +0.2% m/m
- Prior was -0.1% m/m
- Annual prices +5.3% vs +6.7% prior
I don't see any housing collapse here and we've seen the worst of interest rates. Going into the spring, inventories are extremely tight as people who have ultra-low 30-year mortgage rates refuse to sell. Those who are moving simply rent.