Technical Analysis

US Case-Shiller October 20-city home price index +8.6% y/y vs +8.2% expected

  • Prior was +10.4%
  • October prices -0.5% vs -1.1% expected
  • Prior m/m -1.2% (revised to -1.3%)
  • Non-seasonally adjusted -0.8% m/m

The national price index from the FHFA was also released and was flat on the month and up 9.8% y/y.

I’m concerned about housing for housing’s sake but not for the greater US economy. The y/y numbers show just how few homeowners are underwater on their purchase. The problem is that people are afraid to move because they’ll have to get a mortgage at a much higher rate.

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