by calculated risk May 14, 2024 01:54:00 PM
In today’s ‘Calculated Risk Real Estate’ newsletter: Part 2: Current state of the housing market. Overview for mid-May 2024
A brief excerpt:
on friday, Part 1: Current state of the housing market; overview as of mid-May 2024 We looked into housing inventory, number of construction starts, and sales amount.
In Part 2, we look at home prices, mortgage rates, rent, and more.
…Other indicators of home prices suggest prices will rise by about the same amount year over year in the Case-Shiller index in March.of NAR reported Median prices rose 4.8% year-over-year in March, up from a 5.6% year-over-year increase in February.ice report Prices rose 5.6% year over year in March, but fell from 6.0% year over year in February, with Freddie Mac report Home prices rose 6.6% year-on-year in March, up from a 6.5% year-on-year increase in February.
Below is a comparison of year-over-year change in FMHPI, NAR median home price, and the Case-Shiller National Index.
The median FMHPI and NAR appear to be leading indicators of Case-Shiller. Based on recent monthly data and FMHPI, Year-over-year change in the Case-Shiller index is likely to be similar in March to February.
There’s a lot more to this article.
