by Calculated Risk June 28, 2024 1:41 PM
In today’s Calculated Risk Real Estate newsletter, Freddie Mac Home Price Index rose in May, up 5.9% year over year
Short excerpt:
On a year-on-year basis, the national FMHPI increased 5.9% in May, down from a 6.4% year-on-year increase in April. The year-on-year increase peaked at 19.1% in July 2021 and bottomed out for this cycle at a 0.9% year-on-year increase in April 2023.
As of May, 15 states and Washington, D.C. are below their previous seasonally adjusted peaks. The largest seasonally adjusted declines from recent peaks were in Idaho (-4.0%), Montana (-2.8%), Wyoming (-1.7%), Washington, D.C. (-1.7%), Utah (-1.3%), and Florida (-1.2%).
For cities (Core-Based Statistical Areas, CBSAs), here are the 30 cities with the largest seasonally adjusted declines from their peak: Austin continues to be the worst performing city.
