by Calculated Risk on 4/11/2025 09:02:00 AM
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in March
A brief excerpt:
This is the second look at several early reporting local markets in March. I’m tracking over 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.
Closed sales in March were mostly for contracts signed in January and February when 30-year mortgage rates averaged 6.96% and 6.84%, respectively (Freddie Mac PMMS). This was an increase from the average rate for homes that closed in February. This was before the recent surge in economic uncertainty and stock market volatility that might impact existing home sales.
…In March, sales in these markets were down 1.3% YoY. Last month, in February, these same markets were down 6.2% year-over-year Not Seasonally Adjusted (NSA).
Important: There were the same number of working days in March 2025 (21) as in March 2024 (21). So, the year-over-year change in the headline SA data will be close to the change in the NSA data (there are other seasonal factors).
…
This was just several early reporting markets. Many more local markets to come!
There is much more in the article.
