, Columnist
Housing Defies Fed’s Campaign to Control Inflation
Home prices just keep rising despite surging mortgage rates, and they are baked into indexes that track rising prices.
The seasonally adjusted median home sale price jumped 3.6% in April from March.
Photographer: Frederic J. Brown/AFP/Getty Images
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The breakneck pace of US home price increases accelerated even further last month, making the Federal Reserve’s task of curbing the worst inflation in 40 years even harder.
The seasonally adjusted median home sale price jumped 3.6% in April from March, the biggest increase in Zillow data dating to 2012. Inventory is starting to rise slightly, but it’s still so low that it’s vastly outstripped by demand, fueling housing appreciation.