Source: The Washington Post —
Nationally, typical home values rose a seasonally adjusted 0.7% last month from June, according to the Zillow Home Value Index data released Friday. That’s consistent with 8.5% home value appreciation on an annualized basis, a considerable downshift from a pace of around 25% in mid-2021. The Fed is coming in hard and fast on the 5% pace that was common in the five years before the pandemic, which would finally be consistent with its goal of bringing inflation back under control.