by Calculated Danger on 10/11/2024 10:47:00 AM
As we speak, within the Calculated Danger Actual Property E-newsletter: Half 1: Present State of the Housing Market; Overview for mid-October 2024
A quick excerpt:
This 2-part overview for mid-October supplies a snapshot of the present housing market.
I at all times focus first on stock, since stock often tells the story! And presently stock is rising year-over-year however remains to be properly beneath pre-pandemic ranges.
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Here’s a graph of latest itemizing from Realtor.com’s September 2024 Month-to-month Housing Market Tendencies Report displaying new listings have been up 11.6% year-over-year in September. New listings are nonetheless properly beneath pre-pandemic ranges. From Realtor.com:Maybe the most important information this month is that sellers stormed again this September as newly listed properties have been 11.6% above final yr’s ranges and a big reversal from August’s 0.9% lower. We famous final month that the sharp lower in mortgage charges seen in mid-August might result in a rise in listings within the coming months as decrease charges start to entice the marginal home-owner to promote, and that’s precisely what occurred in September.
Word the seasonality for brand spanking new listings. December and January are seasonally the weakest months of the yr for brand spanking new listings, adopted by February and November. New listings shall be up year-over-year in 2024, however nonetheless properly beneath regular ranges.
There may be rather more within the article.
