by Calculated Threat on 11/25/2024 01:51:00 PM
In the present day, within the Calculated Threat Actual Property E-newsletter: Last Take a look at Native Housing Markets in October and a Look Forward to November Gross sales
A quick excerpt:
After the Nationwide Affiliation of Realtors® (NAR) releases the month-to-month current residence gross sales report, I choose up extra native market knowledge that’s reported after the NAR. That is the ultimate take a look at native markets in October.
The large story for October was that current residence gross sales elevated year-over-year (YoY) for the primary time since July 2021. Nevertheless, gross sales in October, at 3.96 million on a seasonally adjusted annual price foundation (SAAR) had been nonetheless traditionally low. This YoY enhance was a mix of weak gross sales in October 2023 and decrease mortgage charges in August and September when contracts had been signed (Present residence gross sales are reported at closing). The mortgage charges in August, September and October had been the bottom mortgage charges in 2 years!
Additionally, regionally, stock continues to extend sharply in Florida and Texas.
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Here’s a take a look at months-of-supply utilizing NSA gross sales. Observe the regional variations, particularly in Florida and Texas (though October statistics in Florida had been impacted by Hurricane Milton). This pickup in stock is impacting costs in Florida.
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Many extra native markets to return!
There may be far more within the article.
