Home Values Decline for 6th Straight Month - San Fran Goes Negative - Housing Bubble 2.0

Need I say More ? Today the S&P CoreLogic Case Shiller US Home Price Index was released for December 2022. Now realize that the Index does lag about 2 months, however it is clear, or at least the data confirms what most of us are thinking: US Home Values are still declining and are now where near bottoming out. It was interesting to note that both San Francisco and Seattle posted negative year over year numbers (which means they lost value). Additionally the Pending Home Sales Index, provided by NAR, did post an increase and will most likely be utilized as a positive statistic by MainStream Media and its Housing Narrative, suggesting that the correction/crash is over. It must be noted that the increasing in pending sales coincided with a few weeks of lower mortgage rates. Mortgage rates have since risen and sales activity has slowed down once again.