Video Transcript
Home prices dropped nationwide for the second straight month in July. This according to the FHFA's House Price Index, a data release that reports on national, state and local home valuations. The index dropped 0.1% in July after falling 0.2% in June, two months in a row, and there's a big deal because the House Price Index is used each November to set mortgage loan limits. If the index doesn't rise, neither do the limits. But until then, a more relevant data point tucked inside the reportis that region by region, markets behaved differently. Values dropped in the South in July and through Big Sky parts of the country. But on the West Coast and throughout the Ohio Valley home prices were up. And that's normal. Real estate will always vary between regions, and by state, by city and neighborhood. And the best way to make sure you are making good choices is to know what's going on where you live. Stay plugged in. Watch the local market. I'm Dan with Homebuyer.com. Happy homebuying.
U.S. Home Prices On A 2-Month Streak
U.S. home prices declined for the second consecutive month in July, with the FHFA House Price Index dropping 0.1% after a 0.2% decrease in June. Regional variations were noted, with price drops in the South and Big Sky areas, while the West Coast and Ohio Valley experienced price increases.
Video Transcript
Home prices dropped nationwide for the second straight month in July. This according to the FHFA's House Price Index, a data release that reports on national, state and local home valuations. The index dropped 0.1% in July after falling 0.2% in June, two months in a row, and there's a big deal because the House Price Index is used each November to set mortgage loan limits. If the index doesn't rise, neither do the limits. But until then, a more relevant data point tucked inside the reportis that region by region, markets behaved differently. Values dropped in the South in July and through Big Sky parts of the country. But on the West Coast and throughout the Ohio Valley home prices were up. And that's normal. Real estate will always vary between regions, and by state, by city and neighborhood. And the best way to make sure you are making good choices is to know what's going on where you live. Stay plugged in. Watch the local market. I'm Dan with Homebuyer.com. Happy homebuying.
