by Calculated Risk on 12/31/2025 09:39:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Up 1.0% Year-over-Year in November

A brief excerpt:

Freddie Mac reported that its “National” Home Price Index (FMHPI) increased 0.19% month-over-month (MoM) on a seasonally adjusted (SA) basis in November.

On a year-over-year (YoY) basis, the National FMHPI was up 1.0% in November, down from up 1.1% YoY in October. The YoY increase peaked at 19.2% in July 2021, and for this cycle, and previously bottomed at up 1.1% YoY in April 2023. The YoY change in November is a new cycle low. ...

As of November, 19 states and D.C. were below their previous peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peaks are in D.C. (-4.9%), Montana (-3.2%), and Florida (-2.8%).

For cities (Core-based Statistical Areas, CBSA), 140 of the 387 CBSAs are below their previous peaks.

Here are the 30 cities with the largest declines from the peak, seasonally adjusted. Punta Gorda has passed Austin as the worst performing city. Note that 5 of the 6 cities with the largest price declines are in Florida.

A third of the cities on the list are in Florida.

There is much more in the article!