Oakland, Austin, Cape Coral, New Orleans, San Francisco, Birmingham, Fort Myers, Washington DC, Sarasota, Denver, Hayward, Portland, Phoenix, Naples, St. Petersburg.

Prices fell YoY in 22: Tampa, Austin, Miami, San Diego, Los Angeles, San Jose, San Francisco, Dallas, San Antonio, Houston, Phoenix, Orlando, Atlanta, Denver, Raleigh, Seattle… Rose in Chicago, Boston, New York, Philadelphia…

So mortgage rates are not the problem; they’re at the low end of the pre-QE historical range. Those exploded prices are.

This is going to take a long time to get worked out.

A bigger rise in March got more than wiped out by a drop in April. That’s how it goes with zigzagging month-to-month data.

Price declines and increases vary dramatically in different markets.

Homebuilders rant about the tough market.