by Calculated Threat on 11/07/2024 10:45:00 AM
At this time, within the Calculated Threat Actual Property Publication: 1st Take a look at Native Housing Markets in October
A quick 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 information shouldn’t be accessible).
That is the primary take 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 information is launched.
Closed gross sales in October have been largely for contracts signed in August and September when 30-year mortgage charges averaged 6.50% and 6.18%, respectively (Freddie Mac PMMS). These have been the bottom mortgage fee in 2 years!
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In October, gross sales in these markets have been up 17.3% YoY. Final month, in September, these identical markets have been down 0.3% year-over-year Not Seasonally Adjusted (NSA).Vital: There was yet one more working day in October 2024 (22) as in October 2023 (21). So, the year-over-year enhance within the headline SA information shall be lower than the NSA information 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 have 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 come back!
There may be far more within the article.
