California Home Sales Down 1.9% Yoy in January; 4th Look at Local Housing Markets

bee Calculated Risk On 2/20/2025 12:36:00 PM

Today, in the calculated Risk Real Estate Newsletter: California Home Sales Down 1.9% Yoy in January; 4th Look at Local Housing Markets

A letter excerpt:

Here a few more local markets prior to the clown release tomorrow.

The clown is scheduled to release January Existing Home Sales on Friday, February 21st at 10:00 am. The consensus is for 4.10 million saar, down from 4.24 million in December. Last Year, the Nar Reported Sales in January 2024 at 4.00 Million Saar.

Housing Economist Tom Lawler Expects The Nar to Report Sales of 4.09 Million Saar for January.
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From the California Association of Realtors® (Car): Elevated Mortgage Rates Drag Down January Home Sales, Car Reports

January’s Sales Pace Fell from the 282,490 Homes Sold in December and Was down 1.9 percent from a year agowhen a revised 259,160 homes were sold on an annualized base. The January Sales Level was the lowest in 13 months, and the double-digit month-to-month sales decline was the biggest decrease in 30 months. The Year-Over-Year Decline was the first in eight months.

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Several Local Markets – Like Illinois, Miami, New Jersey and New York – Will Report After the Nar Release.

There is much more in the article.