by calculated risk October 31, 2024 11:32:00 AM
In today’s ‘Calculated Risk Real Estate’ newsletter: Freddie Mac’s home price index rose in September. 3.6% increase from previous year
A brief excerpt:
According to Freddie Mac, “National” House Price Index (FMHPI) In September, the index rose by 0.28% from the previous month on a seasonally adjusted (SA) basis. Compared to the same month last year, the national FMHPI increased by 3.6% in September, slowing down from the 4.0% increase compared to the previous year in August. 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.
As of September, 11 states were below their previous seasonally adjusted peak. The states with the largest seasonally adjusted declines from recent peaks were Florida (-2.2%), Louisiana (-1.8%), Arizona (-1.7%), North Carolina (-1.5%), and Arkansas (-1.3%).
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 17 of the top 30 worst-performing cities are now in Florida.
And nine of the 12 worst-performing cities are in Florida.
