A brief excerpt:
Freddie Mac reported that its “National” Home Price Index (FMHPI) decreased 0.04% month-over-month (MoM) on a seasonally adjusted (SA) basis in September. This is the sixth consecutive with a small MoM SA decline.
On a year-over-year (YoY) basis, the National FMHPI was up 1.0% in September, down from up 1.3% YoY in August. The YoY increase peaked at 19.2% in July 2021, and for this cycle, and previously bottomed at up 1.1% YoY in April 2023. The YoY change in September is a new cycle low. …
As of September, 19 states and D.C. were below their previous peaks, Seasonally Adjusted. The largest seasonally adjusted declines from the recent peaks are in New Mexico (-3.8%), Arizona (-3.6%), Florida (-2.8%), and Texas (-2.6%).
For cities (Core-based Statistical Areas, CBSA), 182 of the 387 CBSAs are below their previous peaks.
Here are the 30 cities with the largest declines from the peak, seasonally adjusted. Punta Gorda has passed Austin as the worst performing city. Note that 6 of the 9 cities with the largest price declines are in Florida.
Florida has the largest number of CBSAs on the list and Texas has the 2nd most.
There is much more in the article!