at Calculated Risk on 11/12/2024 09:26:00 AM
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in October
A letter excerpt:
NOTE: The tables for active listings, new listings and closed sales all include a comparison to October 2019 for each local market (some 2019 data is not available).
This is the second look at local markets in October. I’m tracking over 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 October were mostly for contracts signed in August and September when 30-year mortgage rates averaged 6.50% and 6.18%, respectively (Freddie Mac PMMS). These were the lowest mortgage rates in 2 years!
…Here is a look at months-of-supply using NSA sales. Note the regional differences, especially in Florida (although October statistics in Florida were impacted by Hurricane Milton). This pickup in inventory is impacting prices in Florida.
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Many more local markets to come!
There is much more in the article.