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Final Look at Local Housing Markets in April

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by Calculated Risk on 5/23/2022 11:07:00 AM

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.

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(R)

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).

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/

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