Biden/Harris started the fire! And the house market is still burning.
S&P/Case-Shiller released the monthly Home Price Indices for August (“August” is a 3-month average of June, July and August closing prices). August closing prices include some contracts signed in April, so there is a significant lag to this data. Here is a graph of the month-over-month (MoM) change in the Case-Shiller National Index Seasonally Adjusted (SA).
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Fire! Is still burning. The Fed tried to extinguish it and failed.