by Calculated Threat on 10/11/2024 10:47:00 AM
At the moment, within the Calculated Threat Actual Property E-newsletter: Half 1: Present State of the Housing Market; Overview for mid-October 2024
A short excerpt:
This 2-part overview for mid-October gives a snapshot of the present housing market.
I all the time focus first on stock, since stock often tells the story! And presently stock is rising year-over-year however remains to be nicely beneath pre-pandemic ranges.
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Here’s a graph of latest itemizing from Realtor.com’s September 2024 Month-to-month Housing Market Developments Report displaying new listings had been up 11.6% year-over-year in September. New listings are nonetheless nicely beneath pre-pandemic ranges. From Realtor.com:Maybe the largest information this month is that sellers stormed again this September as newly listed houses had been 11.6% above final yr’s ranges and a big reversal from August’s 0.9% lower. We famous final month that the sharp lower in mortgage charges seen in mid-August might result in a rise in listings within the coming months as decrease charges start to entice the marginal home-owner to promote, and that’s precisely what occurred in September.
Observe the seasonality for brand new listings. December and January are seasonally the weakest months of the yr for brand new listings, adopted by February and November. New listings shall be up year-over-year in 2024, however nonetheless nicely beneath regular ranges.
There may be far more within the article.
