Case-Shiller National Home Price Index Cools To 5.76% YoY As Fed Tightens The Monetary Noose (But Only Seattle And San Francisco Have Negative YoY Price Changes But All 20 Metro Areas Fell In December From November)

Confounded Interest ^ | 02/28/2023 | Anthony B. Sanders

[Kaiser8408a]

The December CoreLogic Case-Shiller home price indices are out … for December 2022. And it shows that the CS National home price index growth continues to slow as The Fed tightens its monetary noose. December’s YoY growth was 5.76%.

Only Seattle and San Francisco experienced negative growth in home prices on a year-over-year basis. All of the top twenty metro areas experience negative month-over-month price declines from November to December.

[Kaiser8408a]

Bidenflation is also helping to kill the housing market.

[webheart]

YoY!

[ProtectOurFreedom]

“All of the top twenty metro areas experience negative month-over-month price declines from November to December.”

That’s normal. People don’t buy many houses over the holidays.

Only San Fran and Seattle fell year-over-year? That’s astonishing.

[MCSETots]

Seattle and San Francisco maybe lower year over year, but the prices for houses and rent are still extremely higher than what the middle class can afford. Just because the prices dropped, doesn’t mean they’re affordable. . .

[Georgia Girl 2]

Lets see what happens March to October which is the selling season. Atlanta is holding pretty strong. Low inventory and people moving here like crazy.

[frogjerk]

Keep cutting M2 and start cutting spending and maybe, just maybe we can get somewhere.

[ConservativeInPA]

I saw a national Case-Shiller home price map recently. I’m not sure where, put probably on War Room. I quickly focused on the shaded area indicating increase/decrease for central PA, so I don’t recall specifics elsewhere in the country. Case-Shiller home prices here in central PA are pretty stable at the moment. The point being is there are significant differences in price based on location.Good, bad or indifferent, the market is reacting to current economic conditions. Those that have taken on too much debt have a higher probability of being screwed. That has always been the case.

[ProtectOurFreedom]

“Wait for March to October selling season”

Exactly. Our house on the San Francisco Peninsula (bought it 40 years ago) hasn’t declined much, even with people fleeing California.

We bought a summer place in North Idaho five years ago and prices there are holding up well, too. Still LOTS of people moving in from out of state. People have had it with Oregon, Washington and California and are looking for sanity.

Not much inventory in either place.