Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-August
A brief excerpt: On Friday, in Part 1: Current State of the Housing Market; Overview for mid-August I reviewed home inventory and sales.
Most measures of house prices have shown an increase in prices over the last several months, and a key question is Will house prices decline further later this year?
Other measures of house prices suggest prices will be up YoY soon in the Case-Shiller index. The NAR reported median prices were down 0.9% YoY in June, smaller than the 3.0% YoY decline in May. Black Knight reported prices were up 0.8% YoY in June to new all-time highs, and Freddie Mac reported house prices were up 1.7% YoY in June, up from 0.8% in May.
The FMHPI and the NAR median prices appear to be leading indicators for Case-Shiller. Based on recent monthly data, and the FMHPI, it seems likely the YoY change in the Case-Shiller index will turn positive this summer.There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/