by Doug French
Mises.org
The SPDR S&P Homebuilders ETF closed the other day at 45.65, poking higher than February 2006’s 44.70. The conventional wisdom is:
“Teamed with a resilient job market, low mortgage rates have helped boost home buyer demand,” Matthew Speakman, an economist at real estate data provider Zillow, told CNBC. “An extreme shortage of for-sale listings, particularly at lower price points, remains a concern and may ultimately result in a sharper re-acceleration in home prices than expected.”
So everything is okeydokey in housing-land. Well, here in the Sunbelt, the housing price rebound looks to have topped, and it could be rolling over like it did in, say, 2006. WolfeStreet.com gives us the pictures.
In Phoenix: