by Calculated Risk on 8/11/2025 10:49:00 AM
Today, in the Real Estate Newsletter: August ICE Mortgage Monitor: Home Prices Continue to Cool
Brief excerpt:
House Price Growth Continues to Slow
Here is the year-over-year in house prices according to the ICE Home Price Index (HPI). The ICE HPI is a repeat sales index. ICE reports the median price change of the repeat sales. The index was up 1.0% year-over-year in July, down from 1.3% YoY in June.
• Mortgage rates in the high 6% range and improvements in for-sale inventory drove further home price cooling in July
• Annual home price growth eased to +1.0% in July, down from +1.3% in June and +3.6% at the start of the year
• That’s the softest growth rate since 2012, outside of the initial market reaction to mortgage rates pushing above 6% in April and May 2023
• Prices dipped by 0.06% in the month on a seasonally adjusted basis, which is equivalent to a seasonally adjusted annualized rate (SAAR) of -0.7% suggesting more slowing may be on the horizon
• Single family prices were up by +1.4% from the same time last year in July, while condo prices are now down -1.8%, marking the softest condo market since early 2012
• More than half of all major markets are seeing condo prices below last year’s levels, with 9 of the 11 softest condo markets located in Florida, led by Cape Coral (-13.4%) and North Port (-11.2%)
There is much more in the newsletter.
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