US home prices are downshifting to a lower gear.
Home prices across the top 20 cities in the US fell by 0.07% MoM (less than the 0.2% decline expected) – the fifth straight monthly drop in prices. This pulled the YoY price appreciation down to 1.82%, the lowest since July 2023.
The U.S. housing market continues its dramatic shake-up, with 7 cities seeing outright price declines YoY, lead by Tampa FL.
- Denver -0.6%
- San Diego -0.7%
- Phoenix -0.9%
- Dallas -1.3%
- Miami -1.3%
- San Francisco -1.9%
- Tampa -2.8%
On the up side, Attom lists the following big gainers in price.
#10 – Wichita County, Texas
- YOY Percentage Change in Median Home Price: 21.3%
- Q3 2005 Median Sales Price: $207,280
#9 – Whitfield County, Georgia
- YOY Percentage Change in Median Home Price: 21.5%
- Q3 2005 Median Sales Price: $279,500
#8 – Tompkins County, New York
- YOY Percentage Change in Median Home Price: 22.1%
- Q3 2005 Median Sales Price: $420,000
#7 – Fayette County, Pennsylvania
- YOY Percentage Change in Median Home Price: 22.3%
- Q3 2005 Median Sales Price: $165,000
#6 – Schuylkill County, Pennsylvania
- YOY Percentage Change in Median Home Price: 23.1%
- Q3 2005 Median Sales Price: $139,500
#5 – Jackson County, Michigan
- YOY Percentage Change in Median Home Price: 23.2%
- Q3 2005 Median Sales Price: $232,920
#4 – Kankakee County, Illinois
- YOY Percentage Change in Median Home Price: 24.6%
- Q3 2005 Median Sales Price: $233,750
#3 – Tom Green County, Texas
- YOY Percentage Change in Median Home Price: 26.8%
- Q3 2005 Median Sales Price: $283,231
#2 – Saint Louis County, Missouri
- YOY Percentage Change in Median Home Price: 28.2%
- Q3 2005 Median Sales Price: $312,500
#1 – Jasper County, Missouri
- YOY Percentage Change in Median Home Price: 32.1%
- Q3 2005 Median Sales Price: $241,894
A simple model of national home prices? Try Fed money printing.
