by calculated risk May 20, 2024 12:00:00 PM
In today’s ‘Calculated Risk Real Estate’ newsletter: 4th April trends in the local housing market.California home sales rose 4.4% year-on-year in April
A brief excerpt:
NAR is scheduled to announce April existing home sales results on Wednesday, May 22nd. The consensus was SAAR 4.18 million, down from SAAR 4.19 million in March.
housing economist Tom Lawlor is hopeful. NAR reported April sales of SAAR 4.23 million.
NAR reported April 2023 sales of SAAR 4.22 million. If sales increase year-over-year in April, this would be the first year-over-year increase since August 2021, after 31 consecutive months of year-over-year sales declines.
…And here is the sales table for March.
Sales in these markets rose 7.1% year over year in April. In March, these same markets were down 9.7% year over year on a seasonally adjusted (NSA) basis.
Sales in most of these markets are down compared to January 2019. Sales in Grand Rapids and Nashville are up compared to 2019.
This is a year-over-year increase for NSA in these markets. but, There were 2 more business days in April 2024 compared to April 2023As a result, seasonally adjusted sales are lower year-over-year than non-seasonally adjusted sales.
More local markets are expected to release data after Wednesday’s NAR release.
There’s a lot more to this article.
