by Calculated Risk on 4/28/2023 11:16:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased Slightly in March; Up 1.0% Year-over-year

A brief excerpt:

Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.3% month-over-month on a seasonally adjusted (SA) basis in March, putting the National FMHPI down 1.3% SA from its June 2022 peak, and down 2.6% Not Seasonally Adjusted (NSA) from the peak.

On a year-over-year basis, the National FMHPI was up 1.0% in March, down from 2.1% YoY in February.  The YoY increase peaked at 19.2% in July 2021. ...

In March, 24 states and D.C. were below their 2022 peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Idaho (-8.8%), Nevada (-7.9%), Arizona (-6.8%), Utah (-6.5%), Washington (-6.3%), California (-5.6%), and Colorado (-4.4%).

In March, house prices in 9 states and D.C. were down YoY, led by Idaho (-7.5% YoY), Nevada (-6.3%) and Washington (-5.1%).

For cities (Core-based Statistical Areas, CBSA), here are the 30 cities with the largest declines from the peak, seasonally adjusted.

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