by Calculated Danger on 11/25/2024 01:51:00 PM
Immediately, within the Calculated Danger Actual Property E-newsletter: Remaining Take a look at Native Housing Markets in October and a Look Forward to November Gross sales
A short excerpt:
After the Nationwide Affiliation of Realtors® (NAR) releases the month-to-month present residence gross sales report, I decide up further native market knowledge that’s reported after the NAR. That is the ultimate take a look at native markets in October.
The massive story for October was that present residence gross sales elevated year-over-year (YoY) for the primary time since July 2021. Nonetheless, gross sales in October, at 3.96 million on a seasonally adjusted annual price foundation (SAAR) have been nonetheless traditionally low. This YoY improve was a mixture of weak gross sales in October 2023 and decrease mortgage charges in August and September when contracts have been signed (Current residence gross sales are reported at closing). The mortgage charges in August, September and October have 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 have been impacted by Hurricane Milton). This pickup in stock is impacting costs in Florida.
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Many extra native markets to come back!
There’s rather more within the article.
