by calculated risk September 30, 2024 02:17:00 PM
In today’s ‘Calculated Risk Real Estate’ newsletter: Freddie Mac’s home price index rose slightly in August. 3.7% increase from previous year
A brief excerpt:
According to Freddie Mac, “National” House Price Index (FMHPI) In August, it rose by 0.11% month-on-month on a seasonally adjusted (SA) basis. Compared to the same month last year, the national FMHPI rose 3.7% in August, slowing from the 4.5% year-on-year rise in July. The year-over-year increase peaked at 19.1% in July 2021 and bottomed out for this cycle at a 0.9% year-over-year increase in May 2023.
Over the past six months, the seasonally adjusted index grew at an annualized rate of 1.5%
…As of August, 15 states and Washington, D.C., were below their previous seasonally adjusted peaks. The largest seasonally adjusted declines from recent peaks were in Louisiana (-2.5%), Arkansas (-2.1%), Washington, D.C. (-2.0%), and Florida (-1.9%). Texas (-1.5%) and Idaho (-1.1%). %).
For cities (Core-based Statistical Areas, CBSA), here are the 30 cities with the largest seasonally adjusted declines from peak. Austin continues to be the worst performing city. but, Eleven of the 30 worst-performing cities were in Florida.
