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House Price Growth Continued To Fade In December

US DATA
  • FHFA house prices increased by less than expected in Dec, 0.1% M/M (cons 0.3) after 0.31% M/M, its softest monthly print since Jan’23.
  • The S&P CoreLogic 20-city index meanwhile was in line as it increased 0.21% M/M (cons 0.2) after an upward revised 0.24% (initial 0.15).
  • The two combined have cooled in the past two to three months after growing strongly from early 2023 to Q3.
  • FHFA prices are 48% higher than pre-pandemic levels vs 45% for the S&P CoreLogic 20-city.

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