At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Single Family Starts Down Slightly Year-over-year in May; Multi-Family Starts Down 50% • NAR: Existing-Home Sales Decreased to 4.11 million SAAR in May • Lawler: Early Read on Existing Home Sales in May • 4th Look at Local Housing…
by Calculated Risk on 6/22/2024 08:11:00 AM The key reports this week are May New Home sales, the third estimate of Q1 GDP, Personal Income and Outlays for May and the April Case-Shiller house price index. For manufacturing, the June Dallas, Kansas City and Richmond Fed manufacturing surveys will be released. —– Monday, June 24th…
by Calculated Risk on 6/21/2024 07:02:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I’m currently using 4 weeks ago for “now”, since the most recent three weeks will be revised significantly. Note: “Effective May 1, 2024, hospitals are no longer required to report COVID-19 hospital admissions, hospital…
by Calculated Risk on 6/21/2024 02:36:00 PM From BofA: Our 2Q tracking estimate is two tenths higher at 1.8% q/q saar largely due to stronger than expected May payrolls and weaker than expected May CPI and PPI [June 20th estimate]emphasis added From Goldman: We lowered our Q2 GDP tracking estimate by 0.1pp to +1.9% (qoq…
by Calculated Risk on 6/21/2024 10:48:00 AM Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.11 million SAAR in May Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2023 and 2024. Sales declined 2.8% year-over-year compared to May 2023. This was…
by Calculated Risk on 6/21/2024 10:00:00 AM From the NAR: Existing-Home Sales Edged Lower by 0.7% in May as Median Sales Price Reached Record High of $419,300 Existing-home sales slightly declined in May as the median sales price climbed to a record high, according to the National Association of REALTORS®. In the four major U.S….
by Calculated Risk on 6/20/2024 07:51:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday:• At 10:00 AM ET, Existing Home Sales for May from the National Association of Realtors (NAR). The consensus is for 4.10 million SAAR, down from 4.14 million. Source link
by Calculated Risk on 6/20/2024 12:45:00 PM What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. Now…
by Calculated Risk on 6/20/2024 09:12:00 AM Today, in the Calculated Risk Real Estate Newsletter: Single Family Starts Down Slightly Year-over-year in May; Multi-Family Starts Down 50% A brief excerpt: Total housing starts in May were below expectations, however, starts in March and April were revised up slightly, combined. The third graph shows the month-to-month comparison…
by Calculated Risk on 6/20/2024 08:32:00 AM From the Census Bureau: Permits, Starts and Completions Housing Starts:Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000. This is 5.5 percent below the revised April estimate of 1,352,000 and is 19.3 percent below the May 2023 rate of 1,583,000. Single‐family housing starts…