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by Calculated Risk on 8/11/2025 10:49:00 AM

Today, in the Real Estate Newsletter: August ICE Mortgage Monitor: Home Prices Continue to Cool

Brief excerpt:

House Price Growth Continues to Slow

Here is the year-over-year in house prices according to the ICE Home Price Index (HPI). The ICE HPI is a repeat sales index. ICE reports the median price change of the repeat sales. The index was up 1.0% year-over-year in July, down from 1.3% YoY in June.

• Mortgage rates in the high 6% range and improvements in for-sale inventory drove further home price cooling in July

• Annual home price growth eased to +1.0% in July, down from +1.3% in June and +3.6% at the start of the year

• That’s the softest growth rate since 2012, outside of the initial market reaction to mortgage rates pushing above 6% in April and May 2023

• Prices dipped by 0.06% in the month on

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