- Home prices declined 0.77% from June to July, the first monthly decline in nearly three years, according to Black Knight, a mortgage software, data and analytics firm.
- While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991.
- "Further price corrections are likely on the horizon as we move into what are typically more neutral seasonal months for the housing market," said a Black Knight executive.
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