by Calculated Risk on 5/20/2024 12:00:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local Housing Markets in April; California Home Sales Up 4.4% YoY in April

A brief excerpt:

The NAR is scheduled to release April existing home sales on Wednesday, May 22nd. The consensus is for 4.18 million SAAR, down from 4.19 million in March.

Housing economist Tom Lawler expects the NAR to report sales of 4.23 million SAAR for April.

The NAR reported sales of 4.22 million SAAR in April 2023. If sales increased YoY in April, this will be the first YoY increase since August 2021, following 31 consecutive months with a YoY decline in sales.
...
And a table of March sales.

In April, sales in these markets were up 7.1% YoY. In March, these same markets were down 9.7% year-over-year Not Seasonally Adjusted (NSA).

Sales in most of these markets are down compared to January 2019. Sales in Grand Rapids and Nashville are up compared to 2019.

This is a year-over-year increase NSA for these markets. However, there were two more working days in April 2024 compared to April 2023, so sales Seasonally Adjusted will be lower year-over-year than Not Seasonally Adjusted sales.

More local markets will release data after the NAR release on Wednesday!

There is much more in the article.