- Housing price growth in major US metro areas has slowed since the beginning of the year, particularly in New York – from almost ~7% y/y to less than 1% (as of April 4).
- In Dallas, prices have been falling and are now down ~2% y/y.
- Inventories have been falling for months, but the year-over-year change has decelerated sharply since mid-March.
- The decline in inventories suggests there are fewer listings on the market.
- Home prices are now flat y/y after rising for the past 12 months.
US Housing Prices – Median, Change y/y
Housing Inventory – Change y/y
Housing Prices – Median, Change y/y