by Calculated Risk June 18, 2024 1:28 PM
Today’s Calculated Risk Real Estate Newsletter: Fourth regional housing market survey for May. California home sales down 6% year-over-year in May
Short excerpt:
The National Association of Realtors (NAR) is scheduled to release May existing home sales on Friday, June 21 at 10:00 AM EST. The early consensus is for 4.1 million SAAR, down from 4.14 million in April and also down from 4.23 million for May 2023.
…In May, sales in these markets were down 0.8% year over year. Last month, April, these same markets were up 7.1% year over year, seasonally adjusted (NSA). However, April 2024 had two more business days than April 2023, which caused last month’s sales to decline year over year, seasonally adjusted.
Sales in all these markets are down compared to May 2019.
…
This is a slight decrease in the year-over-year NSA in these markets. Because the number of business days in May 2024 was the same as in May 2023, the year-over-year change in seasonally adjusted sales will be roughly the same as what the NSA data indicates.
…
More local markets to come!
There’s a lot more in the article.
