by Calculated Danger on 9/09/2024 11:30:00 AM
As we speak, within the Calculated Danger Actual Property E-newsletter: 1st Take a look at Native Housing Markets in August
A short excerpt:
NOTE: The tables for energetic listings, new listings and closed gross sales all embody a comparability to August 2019 for every native market (some 2019 knowledge will not be out there).
That is the primary have a look at a number of early reporting native markets in August. I’m monitoring over 40 native housing markets within the US. A number of the 40 markets are states, and a few are metropolitan areas. I’ll replace these tables all through the month as extra knowledge is launched.
Closed gross sales in August had been largely for contracts signed in June and July when 30-year mortgage charges averaged 6.92% and 6.85%, respectively (Freddie Mac PMMS).
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In August, gross sales in these markets had been up 6.6% YoY. Final month, in July, these identical markets had been up 5.8% year-over-year Not Seasonally Adjusted (NSA).Necessary: There was one fewer working day in August 2024 in comparison with August 2023 (22 vs 23), so seasonally adjusted gross sales up be up greater than NSA gross sales. Final month, in July 2024, there have been two extra working days in comparison with July 2023 (22 vs 20), so seasonally adjusted gross sales had been decrease than the NSA knowledge suggests.
Gross sales in all of those markets are down considerably in comparison with July 2019.
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This was only a a number of early reporting markets. Many extra native markets to return!
There may be far more within the article.
