Black Knight: Median House Prices Declined in July; First Decline in 32 Months

Important caveats: In normal times, median house prices flatten or decline seasonally in the 2nd half of the year. So, a decline in July isn’t unusual.

Also, the median price is distorted by the mix of homes sold. The repeat sales indexes - like Case-Shiller and FHFA - are better measures of house price movements, but median prices can be a leading …