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Today, in the Calculated Risk Real Estate Newsletter: Black Knight Mortgage Monitor: “Home Prices Down Again in August … Now 2% Off June Peak”
A brief excerpt: Here is a graph of the Black Knight HPI. The index is still up 12.1% year-over-year but was down almost 1% in August (after a similar decline in July).
• According to the Black Knight HPI, median home prices fell 0.98% in August, only marginally better than July’s upwardly revised 1.05% monthly decline
• July and August 2022 mark the largest single-month price declines seen since January 2009 and rank among the eight largest on record
• The housing market has not seen such a significant two-month drop in prices since shortly after the collapse of Lehman Brothers in the winter of 2008 There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
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