This month, we have the opportunity to share some optimistic news for the housing market: both existing-home sales and pending home sales increased in the month of March by 1.1% and 0.4%, respectively. Be sure to check out this quick video with economist Dr. Lawrence Yun about the pending home sales index.
Now, to keep us firmly grounded in reality, let's check in with the Case-Shiller U.S. National Home Price Index (graph below). It's important to note the continued climb in national housing prices past the peak 2007 levels. As the Federal Reserve seeks to continue its policy of rate hikes over the course of 2018, homeowners should be aware that this will drag down the buoyancy of housing prices, and help to avoid another market collapse.