by Calculated Threat on 9/30/2024 10:31:00 AM
At present, within the Calculated Threat Actual Property Publication: Ultimate Have a look at Native Housing Markets in August and a Look Forward to September Gross sales
A short excerpt:
After the Nationwide Affiliation of Realtors® (NAR) releases the month-to-month present dwelling gross sales report, I decide up extra native market information that’s reported after the NAR. That is the ultimate have a look at native markets in August.
The massive story for August was that present dwelling gross sales decreased to three.86 million on a seasonally adjusted annual price foundation (SAAR) – simply above the cycle low of three.85 million SAAR in October 2023 – and the thirty sixth consecutive month with a year-over-year decline.
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In August, gross sales in these markets had been down 4.5% YoY. The NAR reported gross sales had been down 5.7% year-over-year NSA in August.Gross sales in all of those markets are down in comparison with August 2019.
This was a year-over-year lower NSA for these markets. Nonetheless, there was one fewer working day in August 2024 in comparison with August 2023 (22 vs 23), so seasonally adjusted gross sales had been down lower than NSA gross sales.
September gross sales might be largely for contracts signed in July and August, and mortgage charges decreased to a mean of 6.50% in August, down from 6.85% in July. My early expectation is we are going to see present dwelling gross sales up year-over-year in September – for the primary time in over 3 years!
There’s way more within the article.
