Keefe, Bruyette & Woods (KBW) analysts remain bullish on housing even if the recovery is investor-fueled.
Seasonally adjusted prices for the 10-city and 20-city S&P/Case Shiller home price indices rose 7.3% and 8.1% year-over-year, respectively, in January.
Lower-tier homes seem to be rising the most, up an average 2.1% month-over-month and 16.5% year-over-year, S&P revealed in its Case-Shiller data. Conversely, higher tier homes rose 0.9% month-over-month from December to January and 7.6% year-over-year, the same report said.
In the graph below, provided by FNC, Mayer notes ()