by Calculated Threat on 6/06/2024 01:34:00 PM
As we speak, within the Calculated Threat Actual Property E-newsletter: 1st Have a look at Native Housing Markets in Could
A short excerpt:
NOTE: The tables for energetic listings, new listings and closed gross sales all embrace a comparability to Could 2019 for every native market (some 2019 knowledge isn’t obtainable).
That is the primary take a look at a number of early reporting native markets in Could. 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 Could had been principally for contracts signed in March and April when 30-year mortgage charges averaged 6.82% and 6.99%, respectively (Freddie Mac PMMS). That is down from the 7%+ mortgage charges within the August by means of November interval (though charges at the moment are again above 7% once more).
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In Could, gross sales in these markets had been up 3.3% YoY. Final month, in April, these similar markets had been up 8.2% year-over-year Not Seasonally Adjusted (NSA).Gross sales in all of those markets are down in comparison with Could 2019.
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It is a year-over-year enhance NSA for these early reporting markets. There have been the identical variety of working days in Could 2024 in comparison with Could 2023, so the year-over-year change within the seasonally adjusted gross sales will probably be about the identical because the NSA knowledge suggests.
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This was just some early reporting markets. Many extra native markets to come back!
There may be rather more within the article.
