by Calculated Risk August 7, 2024 11:44 AM
Today’s Calculated Risk Real Estate Newsletter: First regional housing market survey in July
Short excerpt:
Note: Active Listings, New Listings, and Completed Sales tables all include comparisons to July 2019 for each local market (some 2019 data is not available).
This is an initial look at some early reporting regional markets for July. I track over 40 regional housing markets in the U.S. Some of the 40 markets are states, others are large metropolitan areas. I will update these tables throughout the month as additional data is released.
Most of the sales that closed in July were from contracts that were signed in May and June, when 30-year mortgage rates averaged 7.06% and 6.92%, respectively (Freddie Mac PMMS).
…In July, sales in these markets increased 4.6% year over year. Last month, in June, sales in these same markets were down 6.7% year over year on a seasonally adjusted (NSA) basis.
Important: July 2024 had two more business days compared to July 2023 (22 vs. 20), so seasonally adjusted sales will be much lower than the NSA data indicates.
Sales in all these markets are down significantly compared to July 2019.
…
These are just a few initial reported markets, many more local markets will be reported in the coming days.
There’s a lot more in the article.
