“It’s still spring selling season, when sales volume and prices nearly always rise on a month-to-month basis, and they did this spring too, but not enough, and compared to a year ago, the 20 cities in the S&P CoreLogic Case-Shiller Home Price Index, released today, fell by 1.7%, the biggest year-over-year decline since 2012, following the 1.1% decline in the prior month, after the gigantic Fed-money-printer gains during the pandemic. The 20-City Index is now down 3.5% from the peak last June.”
