By by Calculated Risk on 1/13/2023 09:57:00 AM
Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in December
A brief excerpt:
Closed sales in December were mostly for contracts signed in October and November. Since 30-year fixed mortgage rates were over 7% for most of October (no points) and averaged 6.8% in November (Freddie PMMS with points) closed sales were probably impacted significantly in December.
From the Houston Association of REALTORS(R): The Economic Headwinds of 2022 Bring Houston’s Home Sales Hot Streak to an End
Here is a summary of active listings for these housing markets in December.
Inventory in these markets were down 30% YoY in January 2022 and are now up 76% YoY! So, this is a significant change from early in 2022, and about the same YoY inventory increase as in November (up 72% YoY).
Notes for all tables:
1) New additions to table in BOLD.
2) Northwest (Seattle), Santa Clara (San Jose), Jacksonville, Source: Northeast Florida Association of REALTORS(R)
3) Totals do not include Atlanta, or Denver (included in state totals)
…
Many more local markets to come!
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/
