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Home Price Index Showing Slight Decline

Market Data + Trends

Home Price Index Showing Slight Decline

August report shows the first modest home price decrease of the year.

October 25, 2021
Bubbles of home prices above houses.

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).

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