Comments on May Case-Shiller and FHFA House Price Increases

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller National Index up 19.7% Year-over-year in May

Excerpt:

Both the Case-Shiller House Price Index (HPI) and the Federal Housing Finance Agency (FHFA) HPI for May 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 “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.

The MoM increase in Case-Shiller was at 1.04%. This was the smallest MoM increase since July 2020, and since this includes closings in March and April, this suggests price growth has slowed sharply.

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