Though the year-over-year home price index for August will likely show a 20% increase, Bill McBride reports an upcoming deceleration in house price growth in his CalculatedRisk Newsletter.
After months of steady price increases, August is seeing a slight drop-off, signaling a decline in median home prices for September and October.
Yesterday, the National Association of Realtors® (NAR) reported that median house prices were up 13.3% year-over-year (YoY) in September. This is down from the peak growth rate of 23.6% YoY in May 2021.
Last month, Case-Shiller reported that the National Index was up 19.7% YoY in July (record YoY increase for Case-Shiller). The Case-Shiller index for August will be released this coming Tuesday, October 26th and will likely show prices up about 20% YoY (similar to July).
Advertisement
Related Stories
Sales
What the NAR Commissions Settlement Means for Home Builders
The legal settlement will improve transparency during the home sales process, mitigate predatory practices, and help preserve profitability for home builders
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency