The US real estate market continues to surge. For some perspective, today’s top chart illustrates the US median price (adjusted for inflation) of a single-family home over the past 43 years while today’s bottom chart presents the semi-annual percent change in home prices (also adjusted for inflation). Today’s chart illustrates that the inflation-adjusted median home price has rarely increased more than 10% in six months (gray shading). When inflation-adjusted home prices did increase more than 10% in six months, it was often soon followed by a period of stagnant or declining prices. It is worth noting that over the past six months, the median price for a single-family home has shot up at the fastest pace on record.
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Quote of the Day
“Price is what you pay. Value is what you get.” – Warren Buffett
Events of the Day
September 13, 2013 – Yom Kippur
September 22, 2013 – First Day of Autumn (Northern Hemisphere)
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