by Calculated Threat on 5/30/2024 11:25:00 AM
Immediately, within the Calculated Threat Actual Property E-newsletter: Last Take a look at Native Housing Markets in April and a Look Forward to Might Gross sales
A quick excerpt:
In April, gross sales in these markets had been up 7.6% YoY. In March, these identical markets had been down 10.0% year-over-year Not Seasonally Adjusted (NSA).
Gross sales in most of those markets are down in comparison with January 2019. Gross sales in Grand Rapids and Nashville are up in comparison with 2019.
This can be a year-over-year enhance NSA for these markets. Nonetheless, there have been two extra working days in April 2024 in comparison with April 2023, so gross sales Seasonally Adjusted had been decrease year-over-year than Not Seasonally Adjusted gross sales.
This was a 7.6% year-over-year lower NSA for these markets. That is about the identical because the 6.8% decline NSA reported by the NAR.
Might gross sales will likely be principally for contracts signed in March and April and mortgage charges elevated barely to a median of 6.99% in April. My early expectation is we are going to see a gross sales lower in Might on a seasonally adjusted annual fee foundation (SAAR) in comparison with April.
Word for subsequent month (Might gross sales): There have been the identical variety of working days in Might 2024 in comparison with Might 2023, so the year-over-year change within the seasonally adjusted gross sales will likely be about the identical because the NSA information suggests.
There’s far more within the article.
