Black Knight Mortgage Monitor: Home prices fell in September. Down 2.6% from June

To calculated risk 2022/11/07 10:33:00 am

The following was published today in the Calculated Risk Real Estate Newsletter: Black Knight Mortgage Monitor: Home prices fell in September. Down 2.6% from June

A quick excerpt:

This is the HPI chart for Black Knight. The index is still up 10.1% year-on-year, but in September he fell for the third month in a row, and since his peak in June he is down 2.6%.

• Housing market watchers will be left wondering whether low affordability will see significant price declines in the coming months or years, or a sideways correction moderated by historically low inventories. Opinion is divided about.

• September data added to both sides of the debate, with house prices falling for the third month in a row.

• Overall, prices have fallen 2.6% since June. It’s his first three-month drop since the 30-year rate surged to his near-5% mark in late 2018, and his worst three-month drop since early 2009.

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