Comments on October Case-Shiller and FHFA House Prices

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 4.8% year-over-year in October

Excerpt:

S&P/Case-Shiller released the monthly Home Price Indices for October ("October" is a 3-month average of August, September and October closing prices). October closing prices include some contracts signed in June, 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 Case-Shiller National Index was at 0.65%. This was the ninth consecutive MoM increase following seven straight MoM decreases.

On a seasonally adjusted basis, prices increased in 19 of the 20 Case-Shiller cities on a month-to-month basis. Prices declined slightly in Portland in October. Seasonally adjusted, San Francisco has fallen 8.1% from the recent peak, Seattle is down 6.5% from the peak, Portland down 4.3%, Las Vegas is down 4.2%, and Phoenix is down 3.9%.

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