by Calculated Danger on 10/09/2024 11:23:00 AM
Right this moment, within the Calculated Danger Actual Property E-newsletter: 1st Have a look at Native Housing Markets in September
A short excerpt:
NOTE: The tables for lively listings, new listings and closed gross sales all embody a comparability to September 2019 for every native market (some 2019 information just isn’t obtainable).
That is the primary take a look at a number of early reporting native markets in September. I’m monitoring over 40 native housing markets within the US. A number 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 September had been principally for contracts signed in July and August when 30-year mortgage charges averaged 6.85% and 6.50%, respectively (Freddie Mac PMMS).
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In September, gross sales in these markets had been unchanged YoY. Final month, in August, these similar markets had been down 2.3% year-over-year Not Seasonally Adjusted (NSA).Essential: There have been the identical variety of working days in September 2024 (20) as in September 2023 (20). So, the year-over-year change within the headline SA information might be just like the NSA information. Final month 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.
Gross sales in all of those markets are down considerably in comparison with September 2019.
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This was simply a number of early reporting markets. Many extra native markets to return!
There may be way more within the article.
