by Calculated Risk on 10/22/2024 08:39:00 AM

Today, in the CalculatedRisk Real Estate Newsletter: California Home Sales Up 5% SA YoY in September

Excerpt:

The National Association of Realtors (NAR) is scheduled to release September Existing Home Sales on Wednesday, October 23rd at 10 AM ET. The consensus is for 3.89 million SAAR, up from 3.86 million in August.

Housing economist Tom Lawler estimates the NAR will report September sales of 3.83 million SAAR. The cycle low was 3.85 million SAAR in October 2023.
...
Here is the press release from the California Association of Realtors® (C.A.R.): California housing demand drops in September as buyers remain hesitant amid falling mortgage rates, C.A.R. reports

September’s sales pace decreased 3.4 percent from the 262,050 homes sold in August and was up 5.1 percent from a year ago, when a revised 240,840 homes were sold on an annualized basis. The sales pace has remained below the 300,000-threshold for the past two years, while year-to-date home sales edged up 0.9 percent from the first nine months of 2023.

There is much more in the article.