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Comments on June Case-Shiller and FHFA House Price Increases

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by Calculated Risk on 8/30/2022 10:16:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller National House Price Index “Decelerated” to 18.0% year-over-year increase in June

Excerpt:

Both the Case-Shiller House Price Index (HPI) and the Federal Housing Finance Agency (FHFA) HPI for June were released today. Here is a graph of the month-over-month (MoM) change in the Case-Shiller National Index Seasonally Adjusted (SA).

The Case-Shiller Home Price Indices for “June” is a 3-month average of April, May and June closing prices. June closing prices include some contracts signed in February, so there is a significant lag to this data.

The MoM increase in Case-Shiller was at 0.33%. This was the smallest MoM increase since June 2020, and since this includes closings in April and May, this suggests price growth stalled in June.

On a seasonally adjusted basis, prices declined in 7 of the 20 Case-Shiller cities: Seattle, San Francisco, San Diego, Portland, Los Angeles, Denver and Washington, DC all saw price declines in the June report.

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/

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