Fastest Home Price Decline Rate in the History

S&P Case-Shiller Home Price Index Released

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The S&P CoreLogic Case-Shiller Home Price Indices calculate U.S. residential real estate prices periodically

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US Home Prices Declined in July 2022 by 0.33% compared to June 2022

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The Composite of 10 Selected city's prices Declined in July 2022 by 0.84% compared to June 2022

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The Composite of 20 Selected city's prices Declined in July 2022 by 0.75% compared to June 2022

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This decline rate in real estate prices was three times more than the average decline rate in the history

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The primary reason for the weakened affordability is fast increasing mortgage rates

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The average mortgage rate during recent times was around 3%, but now its nearing 7%

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Now the average monthly payment towards the mortgage is 70% higher than last year

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So if you are planning to list your house for sale today, the prices will not be as high as it was before three weeks.

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Fastest Home Price Decline Rate in the History

S&P Case-Shiller Home Price Index Released

The S&P CoreLogic Case-Shiller Home Price Indices calculate U.S. residential real estate prices periodically

US Home Prices Declined in July 2022 by 0.33% compared to June 2022

S&P Core Logic Case Shiller US National

The Composite of 10 Selected city's prices Declined in July 2022 by 0.84% compared to June 2022

S&P Core Logic Case Shiller 10-City

The Composite of 20 Selected city's prices Declined in July 2022 by 0.75% compared to June 2022

S&P Core Logic Case Shiller 20-City

This decline rate in real estate prices was three times more than the average decline rate in the history

Historic Decline

The primary reason for the weakened affordability is fast increasing mortgage rates

Why Affordability of People reduced?

The average mortgage rate during recent times was around 3%, but now its nearing 7%

To What Extend Mortgage Rate Increased?

Now the average monthly payment towards the mortgage is 70% higher than last year

How this increased mortgage rate is impacting us?

So if you are planning to list your house for sale today, the prices will not be as high as it was before three weeks.

CONCLUSION