by Calculated Danger on 10/14/2024 11:19:00 AM
At the moment, within the Calculated Danger Actual Property E-newsletter: 2nd Take a look at Native Housing Markets in September
A quick excerpt:
NOTE: The tables for lively listings, new listings and closed gross sales all embrace a comparability to September 2019 for every native market (some 2019 knowledge isn’t accessible).
That is the second take a look at a number of early reporting native markets in September. I’m monitoring over 40 native housing markets within the US. A few of 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 September have been principally for contracts signed in July and August when 30-year mortgage charges averaged 6.85% and 6.50%, respectively (Freddie Mac PMMS).
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In September, gross sales in these markets have been down 4.2% YoY. Final month, in August, these identical markets have been down 5.1% year-over-year Not Seasonally Adjusted (NSA).Vital: There have been the identical variety of working days in September 2024 (20) as in September 2023 (20). So, the year-over-year change within the headline SA knowledge can be much like the NSA knowledge. Final month there was one fewer working day in August 2024 in comparison with August 2023 (22 vs 23), so seasonally adjusted gross sales have been down lower than NSA gross sales.
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This knowledge means that the September present dwelling gross sales report will present a year-over-year decline.
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Many extra native markets to come back!
There’s rather more within the article.
