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by Calculated Risk on 9/21/2022 10:51:00 AM
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased Slightly to 4.80 million SAAR in August
Excerpt:
Median prices are distorted by the mix (repeat sales indexes like Case-Shiller and FHFA are probably better for measuring prices).
The YoY change in the median price peaked at 25.2% in May 2021 and has now slowed to 7.7%. The YoY increase in August was smaller than in July (9.5%) and suggests the Case-Shiller index will slow sharply soon. Note that the median price usually starts falling seasonally in July, so the 2.4% decline from July to August in the median price was partially seasonal (but the decline over the last two months has been much larger than the usual decline).
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/ (Most content is available for free, so please subscribe).
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