by Calculated Threat on 10/11/2024 10:47:00 AM
As we speak, within the Calculated Threat Actual Property Publication: Half 1: Present State of the Housing Market; Overview for mid-October 2024
A short excerpt:
This 2-part overview for mid-October offers 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 growing year-over-year however continues to be effectively under 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 exhibiting new listings have been up 11.6% year-over-year in September. New listings are nonetheless effectively under pre-pandemic ranges. From Realtor.com:Maybe the most important information this month is that sellers stormed again this September as newly listed houses have been 11.6% above final 12 months’s ranges and a major reversal from August’s 0.9% lower. We famous final month that the sharp lower in mortgage charges seen in mid-August may 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.
Be aware the seasonality for brand new listings. December and January are seasonally the weakest months of the 12 months for brand new listings, adopted by February and November. New listings shall be up year-over-year in 2024, however nonetheless effectively under regular ranges.
There’s way more within the article.
