The Stats:
The MEDIAN home price came down by 0.2% but that’s the middle price point of a home. Home prices could be going up but if there are more homes selling in the lower price range, which often happens in a market like this, then it brings the median home price down as well.
In fact this week we received appreciation numbers that shows that actual real appreciation is going up between 4-5% this year according to Case Schiller & FHFA data.
If you wanted to look at it from the very peak with all this talk of a housing bubble.
“Do you know how much home values have come down from the absolute peak? Now lets remember home values went up 121 consecutive months, that’s 10 years & 1 month of consecutively going up like on a staircase, we have seen, according to Case Schiller, home values come down a whopping 3%! A far cry from a bubble.“
– Barry Habib, MBS Highway
fHFA House price index:
Nationally:
0.2% (previous: -0.1%)
5.3% (previous: -0.1%)
BY REGION
Source: fhfa.gov
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