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- 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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