4th Look at Local Housing Markets in March; California Home Sales Down 4.4% YoY in March

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

A brief excerpt:

The NAR is scheduled to release March existing home sales tomorrow, Thursday, April 18th at 10:00AM ET. The consensus is for 4.20 million SAAR, down from 4.38 million in February.

Housing economist Tom Lawler expects the NAR to report sales of 4.23 million SAAR for March.
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And a table of March sales.

In March, sales in these markets were down 9.7% YoY. In February, these same markets were up 1.6% year-over-year Not Seasonally Adjusted (NSA).

Sales in most of these markets are down compared to 2019.

This is a year-over-year decrease NSA for these early reporting markets. However, there were two fewer working days in March 2024 compared to March 2023, so sales Seasonally Adjusted will be higher year-over-year than Not Seasonally Adjusted sales.
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More local markets will release data after the NAR release tomorrow!

There is much more in the article.