Dips in home prices are becoming more pronounced. CoreLogic reported that July prices nationally fell 0.3% from June to July compared to the typical 0.5% rise that period saw from 2010 to 2019.
The median home price fell by 0.77% in July, the largest single-month drop since January 2011, according to the CoreLogic Home Price Index (HPI) and HPI Forecast. Rising mortgage rates were the main culprit.
"This is a significant slowdown," said Bill McBride of the Calculated Risk blog.
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