- Prior was +2.1%
- Prices m/m vs -0.2% expected (prior was -0.3%)
- YoY rose 1.8% vs 1.6% estimate. Prior month 2.2% (revised from 2.1%).
- 15 of 20 major metros fell month-to-month in July, underscoring broad cooling even during peak buying season
Looking regionally YoY, 7 cities are reporting declines with 13 showing gains. The biggest decline is in Washington DC at -2.81%. San Francisco is down -1.92% and Miami (-1.30%) and Dallas (-1.25%) are the biggest decliners. The largest gain is NYC at 6.43% and Chicago at 6.23%. Cleveland is up 4.46% and Detroit at 4.05% are also positive on the year.
How did your favorite city fare?
Meanwhile, the FHFA price data showed:
- Monthly home prices for July MoM fell -0.1% versus -0.2% last month
- YoY prices rose 2.3% down from a revised 2.7% last month (was 2.6%)
