Doing monthly review of our macro housing/econ 350+slide deck. Five charts grabbing my attention for August:
1/5: Home price appreciation finally leveling off. Blue line is our national index, which appears to have peaked at +20% YOY last two months.
2/5: Similar story on new home prices according to builders we survey across the country. Rate of YOY price increases tapering off a bit in July at +19% YOY.
3/5: Our Google apartment search proxy keeps hitting new highs. No real seasonal blip so far in 2021, which is showing up in crazy rent growth figures currently.
4/5: Current housing expansion now 9+ years in the making, second only in length to 15-year expansion last cycle. Proxy here is single-family permit growth, stripping out mild corrections.
5/5: A lot of old homes out there.
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