Freddie Mac House Price Index Shows 1.9% Year-over-Year Gain in May, Slowing from 2022 Peak

The Freddie Mac National House Price Index (FMHPI) increased 0.36% month-over-month (seasonally adjusted) in May, with year-over-year growth rising to 1.9% from 1.4% in April. This marks a continued deceleration from the peak YoY increase of 19.2% in July 2022. The article also notes significant price declines in specific markets, with Punta Gorda down 18.5% and Austin down 16.8% from their recent peaks. The Freddie Mac index is a repeat sales index using loans purchased by Fannie Mae and Freddie Mac, including appraisals.