Last night saw the twin release of US consumer confidence figures and the Case Shiller House Price index. To say these are highly correlated is an understatement with the full transformation of a shelter consumer good that depreciates into a financial asset that has been turned into an ATM.
Anyway, the April house price indicies are in and growth is singing along at above 6% per annum. From S&P:
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.4% annual gain in April, down from 6.5% in the previous month. The 10-City Composite annual increase came in at 6.2%, down from 6.4% in the previous month. The 20-City Composite posted a 6.6% year-over-year gain, down from 6.7% in the previous month.