Domicile Decline

After rising monthly since 2/12 and peaking in 3/22 with an appreciate rate of 2.1%/month, home prices have now declined for two consecutive months. Moreover, the most recent August decline of 0.86% M-o-M is the largest decrease since 2/10. On a year-over-year basis, after peaking in 3/22 at 20.8%, appreciation declined to 15.6% in 7/22 and 13% in 8/22, with this most recent 2.6 percentage point decline the largest ever.