by Calculated Danger on 11/07/2024 10:45:00 AM
In the present day, within the Calculated Danger Actual Property E-newsletter: 1st Take a look at Native Housing Markets in October
A short excerpt:
NOTE: The tables for lively listings, new listings and closed gross sales all embody a comparability to October 2019 for every native market (some 2019 knowledge is just not accessible).
That is the primary have a look at a number of early reporting native markets in October. I’m monitoring over 40 native housing markets within the US. Among the 40 markets are states, and a few are metropolitan areas. I’ll replace these tables all through the month as further knowledge is launched.
Closed gross sales in October had been principally for contracts signed in August and September when 30-year mortgage charges averaged 6.50% and 6.18%, respectively (Freddie Mac PMMS). These had been the bottom mortgage charge in 2 years!
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In October, gross sales in these markets had been up 17.3% YoY. Final month, in September, these identical markets had been down 0.3% year-over-year Not Seasonally Adjusted (NSA).Vital: There was another working day in October 2024 (22) as in October 2023 (21). So, the year-over-year enhance within the headline SA knowledge might be lower than the NSA knowledge signifies. Final month there have been the identical variety of working days in September 2024 in comparison with September 2023 (22 vs 23), so seasonally adjusted gross sales had been down about the identical as NSA gross sales.
Gross sales in all of those markets are down considerably in comparison with October 2019.
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This was simply a number of early reporting markets. Many extra native markets to return!
There may be way more within the article.
