For 124 consecutive months, spanning from the bottom of the housing crash in February 2012 through the top of the Pandemic Housing Boom in June 2022, national home prices as measured by the seasonally adjusted Case-Shiller National Home Price Index rose on a month-over-month basis. That was until last year's mortgage rate shock set off a housing correction.
Through December, U.S. home prices have fallen for six straight months. Since peaking in June, U.S. home prices have fallen 2.7% on a seasonally adjusted basis, and 4.4% without seasonal adjustment.
