Fed Economic Letter: "What's Different about the Latest Housing Boom?"

From Reuven Glick, Kevin J. Lansing, and Daniel Molitor at the San Francisco Fed: What's Different about the Latest Housing Boom? After peaking in March 2006, the median U.S. house price fell about 30%, finally hitting bottom in November 2011. Since then, the median house price has rebounded strongly and is nearly back to its pre-recession peak. In some parts of the country, house prices have reached all-time highs. This Economic Letter assesses recent housing market indicators to gauge whether "this time is different." We find that the increase in U.S. house prices since 2011 differs in......(read more)

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