by Calculated Risk July 19, 2024 9:58 AM
Today’s Calculated Risk Real Estate Newsletter: California home sales fell 3% year over year in June, according to the fourth June regional housing market survey.
Short excerpt:
The National Association of Realtors (NAR) is scheduled to release June existing home sales on Tuesday, July 23 at 10 a.m. ET. The early consensus is for 4.0 million SAAR, down from 4.11 million in May and also down from 4.11 million for June 2023.
…In June, sales in these markets were down 12.7% year-over-year. Last month, in May, sales in the same markets were down 0.6% year-over-year on a seasonally adjusted (NSA) basis.
…
This is a year-over-year NSA decrease in these early reporting markets. However, because there will be two fewer business days in June 2024 compared to June 2023 (19 vs. 21), seasonally adjusted sales will be much higher than the NSA data would suggest.
…
More local markets to come!
There’s a lot more in the article.
