Understanding house price changes
So, what’s going on with house prices?
As of March 11, 2023, as the data trickles in, we know the following:
- For February 2023, Realtor.com reported an annual 7.8% increase in the median price of homes for sale.
- For January 2023, Zillow’s US Home Value Index was up 8.7%, while the Census Bureau reported a -0.7% decline in the median sales price of new houses. Freddie Mac’s House Price Index was in the middle, with a 2.4% year-over-year increase.
- For December 2022, the US Case-Shiller index was up 5.8%. The Federal Housing Finance Agency reported two numbers — an 11.8% increase based on the All Transactions HPI and a 6.6% increase based on the Purchase Only HPI.