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Tuesday, February 07, 2023

Freddie Mac House Price Index Declines for 7th Consecutive Month in December

by Calculated Risk on 2/07/2023 11:20:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Declines for 7th Consecutive Month in December

A brief excerpt:

Freddie Mac recently reported that its “National” Home Price Index (FMHPI) declined for the seventh consecutive month on a seasonally adjusted basis in December, putting the National FNHPI down 2.5% from its May 2022 peak, and down 5.0% Not Seasonally Adjusted (NSA) from the peak.

On a year-over-year basis, the National FMHPI was up 4.1% in December, down from 6.0% YoY in November.  The YoY increase peaked at 19.3% in July 2021.

30 year Mortgage 10 year TreasuryIn December, 36 states and D.C. were below their 2022 peaks in December, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Arizona (-8.5%), Idaho (-7.2%), Nevada (-6.8%), Washington (-6.7%), California (-6.3%), Utah (-5.4%), and Colorado (-5.2%).
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Based on the recent trend, this index will be negative year-over-year in March.
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