by Calculated Risk on 5/23/2022 11:07:00 AM
Monday, May 23, 2022
Final Look at Local Housing Markets in April
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in April
A brief excerpt:
And a table of April sales. Sales in these areas were down 9.5% YoY, Not Seasonally Adjusted (NSA). The NAR reported sales NSA in April (464,000) were 9.6% below sales in April 2021 (513,000). So, this sample of local markets is similar to the NAR report.There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
The table doesn’t include California where sales were down 8.5% year-over-year.
Notes for all tables:
1) New additions to table in BOLD.
2) Northwest (Seattle), North Texas (Dallas) and Santa Clara (San Jose), Mid-Florida (Tampa, Orlando), Jacksonville, Source: Northeast Florida Association of REALTORS®
3) Totals do not include Denver, Atlanta on Minneapolis (included in state totals).
I expect we will see further increases in inventory - and further decline in sales - in May due to higher mortgage rates (more than the usual seasonal increase in inventory).