Tuesday, September 27, 2022

U.S. Home Prices Fall For First Time Since 2012, Largest Ever Deceleration

 The U.S. National Index fell 0.3 percent month-over-month decrease in July, while the 10-City and 20-City composites both posted decreases of -0.8 percent.

The 10-City composite fell 0.5 percent and 20-City Composites fell 0.4 percent.

Nationally prices 15.8 percent over July 2021, a significant cooling from the 18.1 percent year-over-year gain in the previous month.

The 10-City composite is up 14.9 percent year over year, a slowdown from 17.4 percent in June.

The 20-City composite rose 16.1 percent, a decrease from 18.7 percent in the previous month.

Mortgage reates briefly climbed above six percent in June and spent most of July in the high five percent range.

The national index rose 18.8 percent in 2021, the highest calendar year increase in 34 years of data, and then continued to rise at a rapid pace through May. Since then price appreciation has been decelerating on an year-over-year basis.

https://www.breitbart.com/economy/2022/09/27/case-shiller-july-2022/

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