Fox Business News
June 22, 2023
The March 2023 S&P CoreLogic Case-Shiller US National Home Price Index data was released yesterday, which indicated a 0.4% increase in resale prices compared with February 2023 and a 1.19% DECREASE y/y. This is the first y/y drop since 2012. Note the lag in this data, therefore it does not take into account the activity we’ve seen in April and May. Prices are dropping, and where they haven’t been posted online, they are being negotiated into contracts.