by Calculated Risk on 1/30/2025 12:55:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in December and a Look Ahead to January Sales

A brief excerpt:

After the National Association of Realtors® (NAR) releases the monthly existing home sales report, I pick up additional local market data that is reported after the NAR. This is the final look at local markets in December.

The big story for December was that existing home sales increased year-over-year (YoY) for the third consecutive month following year-over-year declines every month since July 2021. However, sales in December, at 4.24 million on a seasonally adjusted annual rate basis (SAAR) were still historically low. Sales averaged almost 5.4 million SAAR in December 2017, 2018, and 2019. So, sales were still about 21% below pre-pandemic levels.
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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.

Miami is off the charts!
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More local data coming in February for activity in January!

There is much more in the article.

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