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Thursday, November 30, 2023

Freddie Mac House Price Index Increased in October to New High; Up 6.0% Year-over-year

by Calculated Risk on 11/30/2023 11:01:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in October to New High; Up 6.0% Year-over-year

A brief excerpt:

On a year-over-year basis, the National FMHPI was up 6.0% in October, from up 5.1% YoY in September.  The YoY increase peaked at 19.1% in July 2021, and for this cycle, bottomed at up 0.9% in April 2023. ...

Freddie HPI CBSAAs of October, 7 states and D.C. were below their previous peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peak were in Idaho (-4.5%), Utah (-2.7%), D.C. (-2.0%), and Nevada (-1.6%).

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.
...
I’ll have an update on the House Price Battle Royale: Low Inventory vs Affordability soon.
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