by Calculated Risk July 31, 2024, 10:51 AM
Today’s Calculated Risk Real Estate Newsletter: Freddie Mac Home Price Index rose slightly in June, up 5.1% year over year
Short excerpt:
Freddie Mac is “National” House Price Index (FMHPI) The national FMHPI increased 0.06% m/m in June on a seasonally adjusted (SA) basis. On a year-on-year basis, the national FMHPI increased 5.1% in June, down from a 5.7% y/y increase in May. The y/y increase peaked at 19.1% in July 2021 and bottomed out for this cycle at a 0.9% y/y increase in May 2023….
As of June, 19 states and Washington, D.C. are below their previous peaks on a seasonally adjusted basis. The largest seasonally adjusted declines from their recent peaks were in Idaho (-4.2%), Montana (-2.5%), Arkansas (-2.0%), Texas (-1.7%), Hawaii (-1.7%) and Utah (-1.6%).
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.
