The latest Federal Housing Finance Agency report by way of Bloomberg:

U.S. home prices dropped 3.3 percent in July from a year earlier, [down 0.5 percent from June], the eighth consecutive decline, as foreclosed properties flooded the market.

Today’s report from the FHFA is based on repeat sales data that compares prices of the same properties over time. The agency, which measures sales of homes with mortgages backed by Fannie Mae or Freddie Mac, doesn’t provide a specific price.

Keep in mind that based simply on medians rather than “apples-to-apples,” the National Association of Realtors reported a 0.7 percent year-over-year increase in prices in July.
U.S. Home Prices Fell 3.3% in July From Year Earlier, FHFA Says [Bloomberg]
July Existing-Home Sales Fall as Expected but Prices Rise [NAR]

Comments from Plugged-In Readers

  1. Posted by footnote

    NAR footnote: “Changes in the composition of sales can distort median price data.”

  2. Posted by marko1332

    That’s in the U.S., San Francisco is different, it won’t affect us; note sarcasm

Comments are closed.

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