by Calculated Threat on 12/16/2024 11:14:00 AM
Right this moment, within the Calculated Threat Actual Property E-newsletter: third Take a look at Native Housing Markets in November
A quick excerpt:
The NAR is scheduled to launch November Present House gross sales on Thursday, December nineteenth at 10:00 AM. The consensus is for 3.97 million SAAR, up from 3.96 million in October. Final yr, the NAR reported gross sales in November 2023 at 3.91 million SAAR. This would be the second year-over-year achieve since July 2021 (final month was the primary).
That is the third take a look at native markets in November. 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 knowledge is launched. The tables for energetic listings, new listings and closed gross sales all embody a comparability to November 2019 for every native market (some 2019 knowledge shouldn’t be obtainable).
Closed gross sales in November had been principally for contracts signed in September and October when 30-year mortgage charges averaged 6.18% and 6.43%, respectively (Freddie Mac PMMS). These had been the bottom mortgage charges in 2 years!
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Here’s a take a look at months-of-supply utilizing NSA gross sales. Be aware the regional variations with extra months-of-supply within the South, particularly in Florida and Texas (though November statistics in Florida had been probably nonetheless impacted by Hurricane Milton).
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Extra native markets to return!
There’s far more within the article.
