https://fred.stlouisfed.org/series/MORTGAGE30US
Case-Shiller Index
https://fred.stlouisfed.org/series/CSUSHPINSA
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We are now approaching Spring, and the housing market has not crashed. Not even close. And while there is some evidence to suggest that we are on the brink of the worst housing meltdown in recent American history, the price stats right now are showing no significant changes. This tiny decline to start the year is a drop in the bucket compared to what’s happened since the turn of the decade.
Almost three years ago the world got hit with an event that shook up everything in the economy real estate included. From March 2020 to June 2022, the price of the median home went up by 43% as measured by the Case-Shiller index. This unbelievable rise was never even thought to be possible. Investors rejoiced as they cashed in on millions in this super-growth era. Owners celebrated by pulling out record-high equity, and buyers grew desperate, watching as month after month prices just got worse and worse.