Happy Monday!

Folks, get your game faces on because the national real estate market is putting on a comeback show. The Case Shiller Home Price Index is playing ball and home prices have been dribbling their way up the court since January. It’s like they’ve been training with the NBA summer league, accelerating every month. But wait, there’s one city sitting on the bench: Phoenix! Looks like they’re taking a halftime break, keeping prices flat for now.  My guess is the second half of that game will be a pretty high-paced one.  We definitely need to deepen the roster with some inventory!

Now, let’s switch arenas to the Federal Housing Finance Agency (FHFA) House Price Index. They’re showing off some serious skills, too! May and April were like a one-two-punch combo, as prices rose with the speed of a pole vaulter down the runway. Year over year, they’ve got their game face on, boasting an impressive 2.8% increase! That’s what I call a winning streak.  It reminds me of what I fantasize about with the Detroit Lions season each year that never, ever pans out!  If they could just win one playoff game that would be cool.

The Fed is pulling out its playbook. With their rate hikes, they’re playing coach, recruiter, trainer, and owner all in one. Chairman Powell is giving a locker room pep talk, dropping hints about potential pauses and changes in-game tactics. Will they go for the two-point conversion in September or take it easy?

But hey, it’s not all slam dunks and touchdowns. The economy is doing some fancy footwork, too, with Q2 GDP showing off its breakaway speed and beating expectations like a sprinter at the finish line. And don’t forget about inflation – it’s going through a cooldown phase, as if it’s soaking in an ice bath after a marathon run.  How long with the ice stay cold?

This has not been a sprint by any means.  It is clearly a marathon and with each fraction of a mile we get one step closer to that finish line!