by Calculated Risk on 2/16/2024 04:39:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Update on “Is the “Natural” Rate of Interest Back to Pre-Financial Crisis Levels”

A brief excerpt:

First, from housing economist Tom Lawler:

Early Read on Existing Home Sales in January

Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.02 million in January, up 6.3% from December’s preliminary pace and up 0.5% from last January’s seasonally adjusted pace. Unadjusted sales should show a slightly higher YOY gain, reflecting this January’s higher business day count compared to last January’s.

Note that this month’s NAR release will incorporate updated seasonal adjustment factors for the previous few years.

Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by about 5.4%

There is more in the article.