2nd take a look at native housing markets in August

by Threat calculated on 09/14/2022 11:20:00

As we speak, within the Calculated Threat Actual Property E-newsletter: 2nd take a look at native housing markets in August

A short excerpt:

That is the second take a look at native markets in August. I observe about 35 native actual property markets in the US. Among the 35 markets are states and a few are metropolitan areas. I’ll replace these charts all through the month as extra knowledge is launched.

The large story for August current house gross sales is the sharp drop in gross sales 12 months over 12 months (YoY). One other key story is that new listings are down year-over-year in August because the sellers’ strike carry on going. Positive, lively listings are up sharply year-over-year, however stock development has stalled. The rise in inventories to date is because of weaker demand, possible as a consequence of rising mortgage charges.

30-year mortgage 10-year cashIn August, gross sales in these markets fell by 20.2%.

Word that in August 2022, there was another day of sale than in August 2021, so the SA drop in August gross sales will likely be bigger than the NSA drop.

The reverse was true in July (another promoting day in July 2021 than in July 2022). So, seasonally adjusted, it is most likely near the identical year-over-year decline as in July.

Many extra native markets to return!

There’s much more within the article. You possibly can register on https://calculatedrisk.substack.com/