Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in September
A brief excerpt: From housing economist Tom Lawler:
Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.00 million in September, down 1.0% from August’s preliminary pace and down 14.5% from last September’s seasonally adjusted pace. Unadjusted sales should show a larger YOY decline, reflecting this September’s lower business day count relative to last September’s.
Local realtor/MLS reports suggest that the median existing single-family home sales price last month was up by about 3.4% from last September.
CR Note: The National Association of Realtors (NAR) is scheduled to release September existing home sales on Thursday, October 19th, at 10:00 AM ET. The consensus is for 3.94 million SAAR, down from 4.04 million in August.There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/