By ~ calculated risk 11:12:00 AM, August 12, 2024
In today’s Calculated Risk Real Estate Newsletter: July Regional Housing Market 2nd Survey
A brief excerpt:
Note: The tables for Active Listings, New Listings, and Closed Sales include comparisons to July 2019 for each local market (some 2019 data is not available).
This is the second regional market look for July. I am tracking over 40 regional housing markets across the United States. Some of the 40 markets are states and some are metro areas. I will update this table throughout the month as additional data becomes available.
The sales that closed in July were primarily contracts signed in May and June, when 30-year mortgage rates averaged 7.06% and 6.92%, respectively (Freddie Mac PMMS).
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In July, sales in this market increased by 4.8% year-over-year. In June, the same market decreased by 10.9% year-over-year (not seasonally adjusted, NSA).Important: July 2024 had two more business days than July 2023 (22 vs. 20). Therefore, seasonally adjusted sales will be significantly lower than the NSA data suggests. This is the opposite of what happened in June.
Sales in all these markets declined significantly compared to July 2019.
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More regional markets coming soon!
There’s more to the article.
