Price corrections are coming to housing markets across the United States, Black Knight said following July’s home price decline from June. Relatedly, tappable home equity is expected to pull back in the third quarter as equity-rich markets already saw declines in July. 

Home prices in July slipped 0.77% from June, marking the largest single-month decline since January 2011, Black Knight said in its monthly mortgage monitor report. While July’s home price grew 14.5% year over year and the growth rate was more than triple the long run average, “such backward-looking metrics can be misleading as they details ⇒

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