by Calculated Threat on 11/25/2024 01:51:00 PM
Immediately, within the Calculated Threat Actual Property Publication: Remaining Take a look at Native Housing Markets in October and a Look Forward to November Gross sales
A short excerpt:
After the Nationwide Affiliation of Realtors® (NAR) releases the month-to-month current dwelling gross sales report, I decide up further native market information that’s reported after the NAR. That is the ultimate have a look at native markets in October.
The massive story for October was that current dwelling gross sales elevated year-over-year (YoY) for the primary time since July 2021. Nevertheless, gross sales in October, at 3.96 million on a seasonally adjusted annual charge foundation (SAAR) had been nonetheless traditionally low. This YoY enhance was a mixture of weak gross sales in October 2023 and decrease mortgage charges in August and September when contracts had been signed (Current dwelling gross sales are reported at closing). The mortgage charges in August, September and October had been the bottom mortgage charges in 2 years!
Additionally, regionally, stock continues to extend sharply in Florida and Texas.
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Here’s a have a look at months-of-supply utilizing NSA gross sales. Notice the regional variations, particularly in Florida and Texas (though October statistics in Florida had been impacted by Hurricane Milton). This pickup in stock is impacting costs in Florida.
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Many extra native markets to return!
There may be rather more within the article.
