by Calculated Risk on 6/22/2022 12:03:00 PM
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in May
A brief excerpt:
We are seeing a significant change in inventory, and maybe a pickup in new listings. So far, most of the increase in inventory has been due to softer demand – likely because of higher mortgage rates – but we need to keep an eye on new listings too.
And a table of May sales. Sales in these areas were down 5.6% YoY, Not Seasonally Adjusted (NSA). The NAR reported sales NSA in May (498,000) were 5.7% below sales in May 2021 (528,000). So, this sample of local markets is similar to the NAR report.
The table doesn’t include California where sales were down 15.2% year-over-year.
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/