by Calculated Risk on 3/31/2023 01:23:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Declines for 8th Consecutive Month in February

A brief excerpt:

Freddie Mac reported that its “National” Home Price Index (FMHPI) declined for the eighth consecutive month on a seasonally adjusted basis in February, putting the National FMHPI down 2.5% from its June 2022 peak, and down 4.7% Not Seasonally Adjusted (NSA) from the peak.

On a year-over-year basis, the National FMHPI was up 1.1% in February, down from 2.9% YoY in January.  The YoY increase peaked at 19.2% in July 2021. ...

In February, 29 states and D.C. were below their 2022 peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Idaho (-10.0%), Nevada (-8.4%), Washington (-7.5%), Arizona (-7.1%), California (-6.9%), Utah (-6.8%), and D.C. (-6.7%).
...
For cities (Core-based Statistical Areas, CBSA), here are the 30 cities with the largest declines from the peak, seasonally adjusted.

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