*as of 9/29; Sources: S&P, BTC, FTSE, DJRE, GOLD

The pace of housing price growth in the U.S. is increasing, according to the S&P Cotality Case-Shiller Home Price Index, which showed prices rising 0.3% monthly and 1.9% year over year in July, up from a revised 1.6% gain in June. Chicago, New York, and Cleveland were the top performers, while Seattle, Las Vegas, and Denver saw the biggest declines. Meanwhile the FHFA House Price Index also showed a 0.3% monthly gain in July and a 2.6% gain year-over-year, again an improvement over June’s numbers. The region with the highest annual gain was the Middle Atlantic, while the Mountain region saw the smallest yearly increase.

➨ TAKEAWAY: While both these indices tend to be more accurate gauges of the market than those that come out more quickly at month-end, the delay in reporting is particularly meaningful since mortgage rates have shot up significantly since July. Therefore, the trend that these reports show is not likely to continue through their August and September tallies, which will be released in the coming months. Also keep in mind that while prices are growing, they still lag inflation, which was 3.4% in July, meaning that U.S. home values actually fell in real terms.

❌ Oura postpones IPO: The smart ring maker announced that it is delaying its highly anticipated public offering due to uncertainty in the market, despite supposedly “strong demand.” This postponement is not an encouraging development for the company or the Pre-IPO venture sector, which has also seen Anthropic, OpenAI, and others delay IPO plans as well in recent weeks.

🪙 Blockchain.com IPO: On the other hand, the crypto exchange Blockchain.com is reportedly preparing for its own public offering. The company is looking to raise $500 million at a valuation between $4 billion - $6 billion, a far cry from its peak price of $14 billion. It will be another test for crypto startups, which have struggled recently after going public.

📉 Consumer confidence falls: The Conference Board’s consumer confidence index fell sharply in September, dropping from 88.6 to 81.9 on a scale where 100 is average. The new reading is the lowest since 2014, with inflation and anxiety over the job market cited as the main reasons.

🚀 OpenEvidence fundraise: The AI healthtech startup raised a $250 million round at a valuation of $15 billion, a 25% gain since its last round in January. The company’s AI tool is being used by nearly half of U.S. doctors, and has doubled its annual revenue run rate this year.

🏢 RE Secondaries hit new high: Real estate secondary transactions hit more than $20 billion in volume last year, up 39% from the year before. Investors and sponsors are seeking liquidity without having to sell buildings, and more patient buyers could see opportunities to acquire stakes at a discount.

💻 Apple-1 for sale: A rare, working Apple-1 computer from 1976 signed by Apple co-founder Steve Wozniak is being auctioned at Bonham’s next month and is expected to fetch between $500,000 and $800,000. It also comes with a signed letter from Steve Jobs offering the original owner a trade-in for an Apple II.

In a week where crypto experienced a slight pullback after a bullish run, the native token of Arbitrum saw the biggest drop of any token in the top-60 by market cap. The Layer-2 Ethereum network is best known for its association with the Robinhood Chain, from which it receives 10% of all fees. Despite the pullback this week, the token has more than doubled in value over the past month, and Standard Charted recently set a 2030 price target of $10, which would represent around a 50x gain from today. Still, the token is down 50% in the past year and 90% from highs reached in March 2024. Its future success is reliant on how Robinhood Chain performs, and while early results are strong, any downturn in activity is likely to affect Arbitrum’s price significantly.