A brief excerpt:
On Wednesday, in Part 1: Current State of the Housing Market; Overview for mid-April 2024 I reviewed home inventory, housing starts and sales.
In Part 2, I will look at house prices, mortgage rates, rents and more.
…
Other measures of house prices suggest prices will be up about the same YoY in the February Case-Shiller index. The NAR reported median prices were up 5.7% YoY in February, up from 4.9% YoY in January. ICE reported prices were up 5.7% YoY in February, down from 5.8% YoY in January, and Freddie Mac reported house prices were up 5.9% YoY in February, down from 6.2% YoY in January.
The FMHPI and the NAR median prices appear to be leading indicators for Case-Shiller. Based on recent monthly data, and the FMHPI, the YoY change in the Case-Shiller index will likely be about the same YoY in February as in January.
Price increases have slowed! Over the last 3 months, this FMHPI has only increased at a 1.7% annual rate.
There is much more in the article.