​US Home Prices Rose For 15th Straight Month In May, Despite Soaring Rates – Tyler Durden

US Home Prices Rose For 15th Straight Month In May, Despite Soaring Rates Home prices in America’s 20 largest cities rose for the 15th straight month in May (the latest data point from Case-Shiller’s admittedly lagging series), up a better than expected 0.34% MoM to +6.81% YoY… Source: Bloomberg Given the smoothing and heavy lag in the Case-Shiller data, it’s hard to find a causal relationship between prices and mortgage rates, but with rates remaining above 7%, it seems hard to believe prices can continue their advance… Source: Bloomberg …but home prices are still tightly correlated with Fed Reserves which…  — Continue at ZeroHedge News : Read More