US PCE index

US property prices

US Property Prices: Did That Canary Just Topple Over?

Benjamin Cole | The last time commercial property prices topped out was July of 2007. House prices appear to be rising still, though at a slower rate by various indices. On a per-square-foot basis, house prices in the U.S. have not budged since May of last year. That could be important, suggesting that houses now selling are larger, and the middle-class is dropping out of the market.