Case-shiller, pumpkin spice, and the nature of money.

What more do you need from American public media?

This is Marketplace.

In Los Angeles, I'm Kai.

Riznal, it is Tuesday.

Today, the 26th of September.

Good as always to have you along.

But the good things in life, they say, are worth waiting for.

And as a measure of what's happening in residential real estate in this country,

there are a few things as good as the S&P Coralogic Case-shiller home price index.

Not perhaps where you thought I was going, but Case-shiller is worth the wait.

For July, your favorite national index of home prices hit an all-time high.

An all-time high, one is obliged to add here.

The happening as mortgage rates are well above 7% for a 30-year fixed loan.

High interest rates and high prices is an unusual combination for the housing market,

and it is changing the whole dynamic between buyers and sellers.

Marketplace at Christen Schwab and Matt Levin are tag-teaming this one for us today.

Okay, so we're going to role-play a bit here.

I'm going to be the would-be buyer, which is actually kind of what I am.

I don't own a home, but maybe someday.

I'll give up, Christen. I do own a home, so I'll be playing the part of potential seller.

And in this market, there are way more buyers, people like me, like they're always seem to be.

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