From 2022 peaks, price shave dropped in 199 of the 382 metros tracked by Freddie Mac.
”Survey says” looks at various rankings and scorecards judging geographic locations while noting these grades are best seen as a mix of artful interpretation and data.Home values have declined from pandemic-era peaks in more than half the states and metropolitan areas, according to some new price data.My trusty spreadsheet reviewed home-price indexes created by Freddie Mac for all U.S. states, Washington, D.C., and 382 metropolitan areas.
Prices are off 2022 highs in 31 of the 50 states and Washington, D.C. They’ve also fallen from pandemic peaks in 199 of the 382 metros tracked. And prices were off all-time tops in all 26 California metros studied. Still, in every state and metro, prices remain above February 2020 – and in most cases vales are far higher than the last month before the coronavirus upended real estate markets and the economy.The biggest drops among the states were in a decidedly Western collection. Here are the 10 largest declines from last year’s price pinnacle and their remaining gains from February 2020 …Off 8.4% from peak and up 33% in pandemic.Off 7.1% from peak and up 49% in pandemic.Off 6.
House hunters can hope that discounted prices, along with modestly lower mortgage rates, will make for a more buyer-friendly market in the rest of 2023.Ponder the drop from peak pricing in other Golden State metros, ranked by size of the fall …Yuba City:Modesto:Off 6.5% from peak, up 17% in pandemic.Off 6.3% from peak, up 27% in pandemic.Off 6.1% from peak, up 17% in pandemic.: Off 5.3% from peak, up 37% in pandemic.Off 4.4% from peak, up 34% in pandemic.Off 4.2% from peak, up 28% in pandemic.
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