This searchable chart shows the home price change in America's 384 largest housing markets

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We just got the latest home price reading from the Freddie Mac House Price Index—which is calculated using a database of mortgages purchased by either Freddie Mac or Fannie Mae.

According to the Freddie Mac House Price Index, U.S. home prices fell -0.2% during the seasonally soft window between October 2023 and November 2023. On a year-over-year basis, U.S. home prices rose +6.2% between November 2022 and November 2023. National house prices as measured by Freddie Mac ended November 2023 up +2.0% above the 2022 summer peak, and +43.3 above March 2020 levels.

Whenever a group like Freddie Mac mentions U.S. home prices, they are referring to the national aggregate. However, on a market-by-market level, it can vary significantly. The chart below shows the shift in the nation’s 40 largest metro area markets.

Click here for a searchable chart with all 384 metros tracked by Freddie Mac

In total, Freddie Mac individually breaks out 384 housing markets. Of those, 366 markets are up on a year-over-year basis, while 18 markets are down.

Among the down markets, Austin is the hardest hit market. In the Freddie Mac series, Austin is down -5.5% on a year-over-year basis, and down -13.9% since its 2022 price peak (next week, ResiClub PRO members will get a deep dive on Austin’s housing market).

Click here for a searchable chart with all 384 metros tracked by Freddie Mac

Big picture: When considering the Fed’s aggressive rate hikes and the fact that mortgage rates briefly crossed 8% in 2023, U.S. home prices were fairly resilient last year. In markets where home prices fell, inventory levels alerted us ahead of time.

Every month, I will continue to create a searchable chart featuring my home price cuts for all 384 housing markets tracked by Freddie Mac. However, heading forward, this exclusive chart will be available only to ResiClub PRO members.