by Calculated Threat on 10/17/2024 12:57:00 PM
As we speak, within the Calculated Threat Actual Property E-newsletter: third Take a look at Native Housing Markets in September
A quick excerpt:
NOTE: The tables for energetic 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 third take a look at a number of early reporting native markets in September. 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 extra knowledge is launched.
Closed gross sales in September have been largely 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 6.0% YoY. Final month, in August, these similar markets have been down 5.2% 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 might 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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Final 12 months, the NAR reported gross sales in September 2023 at 3.98 million SAAR. This knowledge means that the September present dwelling gross sales report will present a year-over-year decline. The cycle low was 3.85 million SAAR in October 2023. A brand new cycle low is feasible.
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Extra native markets to return!
There’s far more within the article.
