by Calculated Risk September 16, 2024 2:46 PM
Today’s Calculated Risk Real Estate Newsletter: Part 2: Current state of the housing market, mid-September 2024 overview
Short excerpt:
Friday, Part 1: Current state of the housing market, mid-September 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 July Case-Shiller Index showed slower year-over-year price growth than reported in the June report. NAR reports July median prices rose 4.2% year-over-year, up from a 4.1% year-over-year increase in June.
ice Reported Prices rose 3.6% year-over-year in July, down from 4.1% year-over-year in June, Freddie Mac said. Reported Home prices rose 4.4% year-on-year in July, down from a 5.2% year-on-year increase in June.
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 July compared to June..
There’s a lot more in the article.
