by Calculated Risk on 9/26/2018 08:20:00 AM
Wednesday, September 26, 2018
The Case-Shiller house price indexes for July were released yesterday. Zillow forecasts Case-Shiller a month early, and I like to check the Zillow forecasts since they have been pretty close.
From Melissa Allison at Zillow: July Case-Shiller Results and August Forecast: Autumn Chill
A slight autumn chill has fallen over the housing market, and after an incredibly hot past few years, it’s probably fair to say the cooldown is a welcome development for many would-be home buyers.The Zillow forecast is for the year-over-year change for the Case-Shiller National index to be smaller in August than in July.
Seasons, just like the housing market, change slowly as environmental conditions shift. Winter in the housing market is certainly not here yet, but it’s increasingly clear that the end of the hot season is rapidly approaching.
Zillow forecasts a further annual slowdown in August, of 5.7 percent. Those Case-Shiller results will be available on Tuesday, Oct. 30.