3rd Look at Local Housing Markets in January; Lawler: Early Read on Existing Home Sales in January

Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in January

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 4.18 million in January, up 4.0% from December’s preliminary pace and down 35.6% from last January’s seasonally adjusted pace. …
In January, sales were down 33.9% in these markets. In December, these same markets were down 37.5% YoY Not Seasonally Adjusted (NSA).

This is a smaller YoY decline than in December for these markets. This data suggests NAR reported sales will rebound in January from 4.02 million SAAR in December.

This will still be a significant YoY decline, and the 17th consecutive month with a YoY decline.There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/