Home Price Report Roundup: More Rebalancing

Three reports show a continuing trend of slowly receding home prices, with some markets coming back to earth faster than others. Here’s a summary of those reports:

Home Price Reports: Monthly Gains Turn Negative

Annual home price appreciation, which flew along at a 20-percent pace for much of the past several years, appears to be grinding to a much slower pace going into 2023.

The ‘Great House Moderation’ Varies by Market

Reports from First American Financial Corp., Santa Ana, Calif., and Black Knight, Jacksonville, Fla., show the “Great House Moderation” accelerating, with some markets experiencing steeper slowdowns than others.

June Jobs Report Beats Estimates

Employment rose by 372,000 jobs in June, the Bureau of Labor Statistics reported Friday, a strong report despite rising inflation and economic uncertainty.