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by Calculated Risk on 3/01/2023 10:53:00 AM
Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Declines for 7th Consecutive Month in January
A brief excerpt:
On a year-over-year basis, the National FMHPI was up 2.4% in January, down from 4.4% YoY in December. The YoY increase peaked at 19.2% in July 2021.
In January, 37 states and D.C. were below their 2022 peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Idaho (-9.6%), Arizona (-8.3%), D.C. (-7.3%), Washington (-7.2%), Nevada (-7.2%), California (-6.6%), Utah (-6.5%), and Colorado (-5.8%).
…
The FMHPI and the NAR median prices appear to be leading indicators for Case-Shiller, and based on the recent trend, the FMHPI will be negative year-over-year in March (reported at the end of April) – and Case-Shiller will follow soon after.
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
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