US home prices rose prior to Covid-19 lockdown measures

US home prices rose prior to Covid-19 lockdown measures

US home prices were increasing at a steady pace until February, before the outbreak of Covid-19 pandemic locked down the economy and caused a sharp decline in home sales. The S&P CoreLogic Case-Shiller 20-city home price index rose 3.5% in Feb from a year ago, up from a 3.1% rise in January. March sales of new and existing homes thereafter slumped as buyers refrained owing to lockdown measures.

Milan
Milan
Dank Duck
Dank Duck 0 months

But home construction is bouncing back pretty ok. I guess people just decided "f this I will build myself a shed"

Rhokanth
Rhokanth 0 months

People are desperate for a housing market crash. It isn't that simple. Thousands of millenials are competing with wealthier generations for a limited housing supply. Real estate is currently one of the most stable investments.

Dave
Dave 0 months

So someone out there saw their house price rise, sold it, then COVID lockdown happened and they have no house?

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