For 124 consecutive months, spanning the bottom of the housing crash in February 2012 through the top of the Pandemic Housing Boom in June 2022, U.S. home prices posted positive month-over-month growth. That streak, of course, came to an abrupt end last year as the Fed's inflation-fight set off a correction in home prices.
On one hand, since their peak, national home prices have only fallen by a few percentage points through November, according to the seasonally adjusted Case-Shiller National Home Price Index. On the other hand, the ongoing housing correction is already starting to have a financial, and psychological, impact on homeowners.
