by Calculated Risk August 14, 2024, 10:21 AM
Today’s Calculated Risk Real Estate Newsletter: Part 2: Current state of the housing market, mid-August 2024 overview
Short excerpt:
yesterday, Part 1: Current state of the housing market, mid-August 2024 overview We looked at housing inventory, housing starts, and home sales.
In part two we’ll look at home prices, mortgage rates, rents and more.
…Other indicators of home prices suggest that the June Case-Shiller Index showed smaller year-over-year price increases than reported in May. NAR reports Median prices rose 4.1% year-over-year in June, down from a 5.2% year-over-year increase in May.
ice Reported Prices rose 4.1% year-over-year in June, down from 4.7% in May, Freddie Mac said. Reported Home prices rose 5.2% year-over-year in June, down from a 5.7% year-over-year increase in May.
Below is a comparison of the year-over-year changes in the FMHPI, the NAR average home price, and the Case-Shiller national index.
The FMHPI and NAR median prices appear to be leading indicators of the Case-Shiller. Based on recent monthly data and the FMHPI, The year-over-year change in the Case-Shiller Index is likely to be lower in June compared to May..
There’s a lot more in the article.
