by Calculated Risk on 1/17/2024 02:04:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in December

A brief excerpt:

From housing economist Tom Lawler:

Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.84 million in December, up 0.5% from November’s preliminary pace and down 4.7% from last December’s seasonally adjusted pace.  Unadjusted sales should show a larger YOY % decline, reflecting this December’s lower business day count compared to last December’s.

Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by about 5.0% from last December.

For 2023 as a whole existing home sales as estimated by the NAR should come in at 4.089 million, the lowest annual sales pace since 1995. 

There is more in the article.