Back in early January, economists at Capital Economics put out a report arguing that U.S. housing market demand had finally bottomed out following last year's mortgage rate induced pullback.
Not long after that report was published, housing metrics began to show a bounce back up as the 2023 spring housing market came to life. After falling for seven straight months between July 2022 and January 2023, U.S. home prices as measured by the seasonally adjusted Case-Shiller National Home Price Index rose in February and March.
