by Calculated Risk on 6/13/2024 10:49:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-June 2024

A brief excerpt:

Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-June 2024 I reviewed home inventory, housing starts and sales.

In Part 2, I will look at house prices, mortgage rates, rents and more.
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Other measures of house prices suggest prices will be up about the same YoY in the April Case-Shiller index. The NAR reported median prices were up 5.7% YoY in April, up from 4.7% YoY in March. ICE reported prices were “cooling”, but still up 5.1% YoY in April, down from 5.7% YoY in March, and Freddie Mac reported house prices were up 6.5% YoY in April, down from 6.6% YoY in March.

Here is a comparison of year-over-year change in the FMHPI, median house prices from the NAR, and the Case-Shiller National index.

The FMHPI and the NAR median prices appear to be leading indicators for Case-Shiller. Based on recent monthly data, and the FMHPI, the YoY change in the Case-Shiller index will likely be about the same YoY in April as in March.

There is much more in the article.