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Wednesday, February 07, 2024

1st Look at Local Housing Markets in January

by Calculated Risk on 2/07/2024 01:15:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in December

A brief excerpt:

NOTE: The tables for active listings, new listings and closed sales all include a comparison to January 2019 for each local market (some 2019 data is not available).

This is the first look at several early reporting local markets in December. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.

Closed sales in January were mostly for contracts signed in November and December when 30-year mortgage rates averaged 7.44% and 6.82%, respectively.
Closed Existing Home SalesAnd a table of January sales.

In January, sales in these markets were up 3.1%. In December, these same markets were down 7.2% year-over-year Not Seasonally Adjusted (NSA).

Sales in all of these markets are down sharply compared to January 2019.
This was just several early reporting markets. Many more local markets to come!
There is much more in the article.