Banking Strategist

HPI Price Walk:

2000 to Peak: Home prices rose 71%, or 8.1% annualized.

Peak to Trough: Decline of 38%, or (10.6)% annualized.

Trough to COVID: Home prices surging again; up 6.0% annualized.

COVID to Fed Tightening: Home prices surge 11.9% annualized.

Fed Tightening: Home prices rise 1.2% annualized.

Fed Pause to Current: Home prices rose 1.7% annualized.

HPI Price Walk:

2000 to Peak: Home prices rose 69%, or 7.9% annualized.

Peak to Trough: Decline of 39%, or (9.0)% annualized.

Trough to COVID: Home prices surging again; up 4.3% annualized.

COVID to Fed Tightening: Home prices surge 11.3% annualized.

Fed Tightening: Home prices rise 5.7% annualized.

Fed Pause to Current: Home prices rose 6.5% annualized.

HPI Price Walk:

2000 to Peak: Home prices rose only 23%, or 3.3% annualized.

Peak to Trough: Decline of 24%, or (4.8)% annualized.

Trough to COVID: Home prices surging again; up 3.9% annualized.

COVID to Fed Tightening: Home prices surge 13.5% annualized.

Fed Tightening: Home prices rise 5.2% annualized.

Fed Pause to Current: Home prices rose 6.0% annualized.

HPI Price Walk:

2000 to Peak: Home prices rose only 27%, or 4.1% annualized.

Peak to Trough: Decline of 49%, or (12.7)% annualized.

Trough to COVID: Home prices surging again; up 7.8% annualized.

COVID to Fed Tightening: Home prices surge 13.7% annualized.

Fed Tightening: Home prices rise 3.1% annualized.

Fed Pause to Current: Home prices rose 6.1% annualized.