by Calculated Danger on 12/06/2024 11:33:00 AM
In the present day, within the Calculated Danger Actual Property E-newsletter: 1st Take a look at Native Housing Markets in November
A short excerpt:
NOTE: The tables for energetic listings, new listings and closed gross sales all embody a comparability to November 2019 for every native market (some 2019 information shouldn’t be out there).
That is the primary have a look at a number of early reporting native markets in October. 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 extra information is launched.
Closed gross sales in October have been largely for contracts signed in September and October when 30-year mortgage charges averaged 6.18% and 6.43%, respectively (Freddie Mac PMMS). These have been the bottom mortgage charge in 2 years!
…
In November, gross sales in these markets have been up 17.0% YoY. Final month, in October, these similar markets have been up 15.7% year-over-year Not Seasonally Adjusted (NSA).Observe that the majority of those early reporting markets have proven stronger year-over-year gross sales than most different markets (for the final a number of months).
Necessary: There was one fewer working day in November 2024 (19) as in comparison with November 2023 (20). So, the year-over-year change within the headline SA information will higher than the NSA information suggests (there are different seasonal components).
Final month, there was yet one more working day in October 2024 (22) as in October 2023 (21), so seasonally adjusted gross sales weren’t as robust year-over-year as NSA gross sales.
…
This was simply a number of early reporting markets. Many extra native markets to return!
There’s far more within the article.
