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Case-Shiller/FHFA House Prices (Mar.)

House prices surged in March, with Case-Shiller reporting record gains on both a monthly and annual basis. That reflects the jump in housing demand seen over the turn of the year, when desperate buyers rushed to secure a home before mortgage rates went up. With that demand now falling away, house price gains will be far more modest from here. We expect annual growth to slow to zero by mid-2023.

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