by Calculated Risk on 2/28/2022 12:37:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Median vs Repeat Sales Index House Prices

Excerpt:

Back in October, I wrote The Coming Deceleration in House Price Growth. In that post, I noted that the median prices (as reported by the National Association of Realtors® (NAR) was showing a slowdown in year-over-year (YoY) house price growth.

In October ... the YoY growth in median prices started falling - and I expected Case-Shiller to follow.


Here is the same graph through the most recent reports.

Sure enough, the YoY growth in the Case-Shiller started to decelerate.

However, median prices have picked up over the last three months - so there isn’t evidence of a sharp decline in the YOY growth.

If there is a slowdown in house price growth, we should expect to see it in median prices first.

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