4th Look at Local Housing Markets in December

Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local Housing Markets in December

A brief excerpt:

Here are a few more local markets before the NAR releases December Existing Home sales tomorrow, Friday, January 24th at 10:00 AM. This will be the 3rd consecutive month with a year-over-year increase in sales.

Watch the regional difference! Inventory is recovering quicker than sales in some areas (especially Florida and Texas), and this is pushing up months-of-supply - and could lead to some price declines in 2025.

The consensus is for 4.20 million SAAR, up from 4.15 million in November. Last year, the NAR reported sales in December 2023 at 3.88 million SAAR. Housing economist Tom Lawler expects the NAR to report sales of 4.15 million SAAR for December.
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Here is a look at months-of-supply using NSA sales. Since this is NSA data, it is likely this will be the seasonal low for months-of-supply.
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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.

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