by Calculated Danger on 1/08/2025 01:02:00 PM
At the moment, within the Calculated Danger Actual Property E-newsletter: 1st Have a look at Native Housing Markets in December
A short excerpt:
NOTE: The tables for lively listings, new listings and closed gross sales all embrace a comparability to December 2019 for every native market (some 2019 knowledge will not be out there).
That is the primary have a look at a number of early reporting native markets in December. 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 further knowledge is launched.
Closed gross sales in December had been largely for contracts signed in October and November when 30-year mortgage charges averaged 6.43% and 6.81%, respectively (Freddie Mac PMMS). This was a rise from the common charge for houses that closed in November, however down from the common charge of seven.5% in October and November 2023.
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In December, gross sales in these markets had been up 18.1% YoY. Final month, in November, these identical markets had been up 17.6% year-over-year Not Seasonally Adjusted (NSA).Notice that most of those early reporting markets have proven stronger year-over-year gross sales than most markets (for the final a number of months).
Essential: There was another working day in December 2024 (21) as in comparison with December 2023 (20). So, the year-over-year change within the headline SA knowledge will lower than the NSA knowledge suggests (there are different seasonal elements).
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This was simply a number of early reporting markets. Many extra native markets to return!
There’s rather more within the article.
