Home Prices Drop 0.6%

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Home Prices Drop 0.6%

Home Prices Drop 0.6%

Home Prices Drop 0.6%, Raising Questions About Loan Limit Change Today brought the release of the two biggest home price indices (HPIs) for the month of July from S&P Case-Shiller and FHFA. Both HPIs showed a marked deceleration in home price appreciation in June with Case Shiller up only 0.2% and FHFA up 0.1%. Both moved into negative territory in July with Case Shiller down 0.4% and FHFA down 0.6%. Granted, FHFA has multiple data sets and the one released today can vary slightly from the quarterly numbers, but if both data sets match (they essentially did in 2021), the 2023 loan limit went from $724,650 to $720,300.

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