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IPFS News Link • Housing

Home Price Growth Suffers Largest Monthly Decline Since 1970s

• Zero Hedge

We recently warned there were emerging signs the housing market had peaked. More evidence has been published today that suggests June was likely the turning point following the most significant annual home price growth decline since before Paul Volcker became Fed Chair.

Black Knight, Inc.'s Data & Analytics division published its Mortgage Monitor Report showing June was "the greatest deceleration in home price growth on record." 

Black Knight Data & Analytics President Ben Graboske said June was a record-breaking slowdown of nearly two percentage points from 19.3% to 17.3% annual home price growth and coincided with the largest single-month increase in homes listed for sale in 12 years.