Freddie Mac House Price Index Increased Slightly in July; Up 4.4% Year-over-year

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased Slightly in July; Up 4.4% Year-over-year

A brief excerpt:

Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.05% month-over-month on a seasonally adjusted (SA) basis in June. On a year-over-year basis, the National FMHPI was up 4.4% in July, down from up 5.2% YoY in June.  The YoY increase peaked at 19.1% in July 2021, and for this cycle, bottomed at up 0.9% YoY in May 2023. ...

As of July, 17 states and D.C. were below their previous peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Idaho (-4.2%), Arizona (-1.9%), Arkansas (-1.8), Florida (-1.6%), Texas (-1.3%), and Colorado (-1.1%).

For cities (Core-based Statistical Areas, CBSA), here are the 30 cities with the largest declines from the peak, seasonally adjusted. Austin continues to be the worst performing city. However, 10 of the 30 worst performing cities are now in Florida!

There is much more in the article.