by Calculated Risk on 11/20/2023 12:56:00 PM

Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local Housing Markets in October

A brief excerpt:

The National Association of Realtors (NAR) is scheduled to release October existing home sales on Tuesday, November 21, 2023, at 10:00 AM ET. The consensus is for 3.93 million SAAR. Housing economist Tom Lawler expects the NAR to report sales of 3.94 million SAAR. This would be a new cycle low, below the 4.00 million SAAR in January 2023.

NOTE: Starting next month, I’ll add some comparisons to 2019 data (pre-pandemic)!

In October, sales in these markets were down 9.4%. In September, these same markets were down 15.7% YoY Not Seasonally Adjusted (NSA).

This is a smaller YoY decline NSA than in September for these markets. However, this is where seasonal adjustments make a difference.

There was one more working day in October 2023 compared

Keep reading this article on Bill McBride - Calculedriskblog.

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