by Calculated Risk on 7/07/2025 10:57:00 AM
Today, in the Real Estate Newsletter: July ICE Mortgage Monitor: Home Prices Continue to Cool, Early Signs of Homeowner Risk Emerge
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 1.6% year-over-year in May, down from 2.0% YoY in April. The early look at the June HPI shows a 1.3% YoY increase.
• Mortgage rates in the high 6% range and growing inventory across the country continue to cool home price growth
• Annual price growth eased to 1.6% in May with ICE’s enhanced Home Price Index showing growth slowing further to 1.3% in early June marking the slowest growth rate since mid-2023
• Early June data also shows home prices rose by a modest 0.02% on a seasonally adjusted basis, which is equivalent to a seasonally adjusted annualized rate (SAAR) of +0.3%, suggesting more slowing on the horizon
• Single family prices were up +1.6% from the same time last year, while condo prices were down -1.3%, marking the softest condo market since 2012
• More than half of the top 100 housing markets in the U.S. are seeing condo prices below last year’s levels, with the largest declines in Florida, led by Cape Coral (-12.7%) and North Port (-10.4%)
There is much more in the newsletter.
