4th Have a look at Native Housing Markets in December; California Residence Gross sales down 44% YoY in December; Costs Down 2.8% YoY

by Calculated Danger on 1/18/2023 03:59:00 PM

Right now, within the Calculated Danger Actual Property E-newsletter: 4th Look at Local Housing Markets in December

A short excerpt:

That is the fourth have a look at native markets in December. I’m monitoring about 40 native housing markets within the US. A few of the 40 markets are states, and a few are metropolitan areas. I’ll replace these tables all through the month as further information is launched.

Right here is the press launch from the California Affiliation of Realtors® (C.A.R.): Interest rate reprieve bolsters December home sales, C.A.R. reports

• Current, single-family dwelling gross sales totaled 240,330 in December on a seasonally adjusted annualized fee, up 1.1 % from November and down 44.1 % from December 2021.

• December’s statewide median dwelling value was, $774,580 down 0.4% % from November and down 2.8% % from December 2021.

30 year Mortgage 10 year TreasuryIn December, gross sales have been down 37.8%. In November, these similar markets have been down 38.1% YoY Not Seasonally Adjusted (NSA).

It is a comparable YoY decline as in November for these markets. If nationwide gross sales decline by the identical % as final month, the NAR will report gross sales for December underneath 4.0 million SAAR – under the 4.01 million in Might 2020 (pandemic low) and the bottom gross sales fee since 2010.

There may be rather more within the article. You’ll be able to subscribe at https://calculatedrisk.substack.com/

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