by Calculated Risk on 7/30/2024 10:18:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 5.9% year-over-year in May; FHFA House Price Index Unchanged in May, up 5.7% YoY

Excerpt:

S&P/Case-Shiller released the monthly Home Price Indices for May ("May" is a 3-month average of March, April and May closing prices). May closing prices include some contracts signed in January, so there is a significant lag to this data. Here is a graph of the month-over-month (MoM) change in the Case-Shiller National Index Seasonally Adjusted (SA).

The MoM increase in the seasonally adjusted (SA) Case-Shiller National Index was at 0.25%. This was the sixteenth consecutive MoM increase, but this tied December as the smallest MoM increase in the last 15 months.

On a seasonally adjusted basis, prices increased month-to-month in 17 of the 20 Case-Shiller cities. Seasonally adjusted, San Francisco has fallen 7.5% from the recent peak, Seattle is down 5.4% from the peak, Portland down 4.3%, and Phoenix is down 4.3%.

There is much more in the article.