US Home Prices rose at 5.7% year-over-year in January, according to the latest data from Case-Shiller. This is the fastest rate of price appreciation since July 2014.
The six-month lagged response to the surge in mortgage rates suggests things may be about to slow down dramatically though...
Las Vegas, Seattle, and San Diego led the monthly gains while Cleveland, Minneapolis, and Detroit saw a slowdown.
Most notably, San Francisco saw the biggest price drop in a year.